Mises Daily
Author:
Thomas J. DiLorenzo
Online Publish Date:
intervention into the U.S. economy. The American recovery was slower than in most European nations; by 1937 Great Britain’s unemployment rate had declined to 10.3 various price-fixing schemes in labor markets, principally for the benefit of unions. The 1933 National Industrial Recovery Act first fixed wages at above-market levels, and then required (via the “code authorities”) all unionized businesses to fix their prices at higher levels. Work weeks were shortened