| |
| | The Fallacies of the NRA - Mises Institute |
 | | Anniversary of the National Industrial Recovery Act, FDR's planning legislation that created the National Recovery Administration, the NRA. |
 | | The National Industrial Conference Board has calculated that at the end of 1932 average hourly earnings had fallen 21.2%, compared with a decline in living costs of 22% in the same period. |
 | | A compilation of the returns of 1,800 of the leading industrial, public-utility, and railroad companies in 1932 showed that the majority, numbering 61% of the total, had deficits aggregating $787,000,000, which offset the net profits, aggregating $682,000,000 reported by the other 39%, leaving a deficit balance for all of them of $105,000,000. |
| www.mises.org /fullstory.asp?control=1262 (4623 words) |
|