Franklin D. Roosevelts National Industrial Recovery Act...

President Franklin D. Roosevelt’s New Deal was a package of economic programs that were made and proposed from 1933 up to 1936. The goals of the package were to give relief to farmers, reform to business and finance, and recovery to the economy during the Great Depression. Among many other new acts to help give recovery to the economy, the NIRA was born. The National Industrial Recovery Act (NIRA) was created by Roosevelt to see to the needs of industry, trade unions, and even the consumer, promoting cooperation among corporations while also establishing codes for fair competition between industries. Most importantly, the purpose of the NIRA was the put people back to work and fight the Great Depression. As Roosevelt saw it, the NIRA†¦show more content†¦The previously mentioned codes dealing with minimum work hours, wages, and labor conditions were also not working out. Those codes would not become a part of work and labor laws until later in history. Another secti on of these codes dealt with fair competition. All sorts of codes were created just dealing with fair competition, but they would not apply to antitrust laws. Antitrust laws were laws made to reduce competition between companies and prevent monopolies from forming (National Industrial Recovery Act of 1933). Since these codes did not apply to antitrust laws it basically gave businesses the opportunity to create monopolies. After monopolies were created, it had raised the prices on goods and services. That is certainly not the best thing for an economy, and to add more fuel to the fire deflation was also a major problem during this time. Deflation is the lowering of the price of goods and services. These higher prices were made on purpose to allow people like farmers to prosper. Their theory of higher prices equals more prosperity failed miserably and made the economy just stop. The prices ended up being too high, and that did absolutely nothing for the economy or the people (National Industrial Recovery Act (1933)). Another reason the NIRA wasn’t all too successful in the thirties was the lack of support it had from businesses. Larger business had given their support to the NIRA, although smaller businesses didShow MoreRelatedThe Great Depression Essay747 Words   |  3 PagesThe Great Depression From black Thursday on October 24, 1929, to December 7, 1941, and the attack on Pearl Harbor, America endured many changes concerning The Great Depression. From the Hooveradministration to Franklin D. Roosevelt; the desperate economic condition threatening the United States in the late twenties and thirties only grew worse. 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