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Article: National Recovery Administration
- Article from:
- Gale Encyclopedia of U.S. Economic History
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NATIONAL RECOVERY ADMINISTRATION
The National Recovery Administration (NRA) developed out of President Franklin D. Roosevelt's (1933
–
1945) New Deal initiative. The NRA was created under the National Industrial Recovery Act (NIRA) in 1933. The chief provision of the act was the creation of the National Recovery Administration. Modeled after the War Industries Board, the NRA oversaw the implementation of several core initiatives set out in the Recovery Act.
Among the initiatives was the establishment of business codes of fair competition, which were standards accepted by businesses and industries. The codes included provisions for minimum wages, voluntary union participation ...