Following the example of the American experience during World War 1, Franklin Delano Roosavelt's administration pursued a Keynesian policy of active government intervention in the economy that came to be the New Deal.
Initially, the New Deal attempted to restore prosperity by creating the National Recovery Administration (NRA), which required government, labor, and industrial leaders to work out regulations for each industry. Declared unconstitutional by the Supreme Court in 1935, the NRA was soon superseded by other efforst collectively known as the Second New Deal.
No comments:
Post a Comment