regent
Gold Member
- Jan 30, 2012
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America was desperate for a solution and as FDR said he would experiment, and that's what he did. In any case our answer today seems to be Keynes, not balancing the budget, nor loaning money to business so it could continue manufacturing the same product that sat on warehouse shelves.I thought it didn't work because it was deemed unconstitutional.Of course, FDR was advancing the capitalistic agenda, it was essential that business make a profit and the NRA was an attempt to make that need come true. It didn't work because the capitalists involved could not make it work. So on to another idea as FDR promised he would do.You know that we are saying the same the same thing here, right..... that FDR was advancing the capitalist agenda. It is kind of you to support my position.
- The propaganda of the New Deal (“malefactors of great wealth”) to the contrary, FDR simply endeavored to re-create the corporatism of the last war. The New Dealers invited one industry after another to write the codes under which they would be regulated. Even more aggressive, the National Recovery Administration forced industries to fix prices and in other ways to collude with one another: the NRA approved 557 basic and 189 supplementary codes, covering almost 95% of all industrial workers.
- The intention was for big business to get bigger, and the little guy to be squeezed out: for example, the owners of the big chain movie houses wrote the codes that almost ran the independents out of business (even though 13,571 of the 18,321 movie theatres were independently owned). This in the name of ‘efficiency’ and ‘progress.’
- New Deal bureaucrats studied Mussolini’s corporatism closely. From “Fortune” magazine: ‘The Corporate state is to Mussolini what the New Deal is to Roosevelt.’(July 1934)
I'm not a free marketeer but I have to question the value of allowing industry to collude in setting their own prices.