HI125 Lecture Notes - Lecture 14: National Industrial Recovery Act, War Industries Board, Herbert Hoover
Document Summary
Business, labour and the state in the interwar years. Continued growth of big business in the interwar years: second merger movement in 1920s, increases trend to concentration and oligopoly, less price competition in some sectors. Invisible hand in management because top level management are setting. Maintained viability and importance in certain niche markets: example: metal fabricating and machinery-making. Metal stamping: specialty products with limited demand. Associationalism: businesses sought out to work with government and vice versa, working together would lead to better response to economic downturn, etc, fairly new idea. Business and government cooperation in the interwar years: particularly during the great depression. Us government generally favored and encouraged merger and rationalization: better control prices and output. Control can provide better responses towards a better economy. Cooperation began with ww1 and war industries board: increase in productivity, board had membership from businesses and government, achieved higher rates of production. Stopped the collaboration, and dismantled the boards.
