7.1+samantha12da

The Great Depression on industreal stagnation //my essay was on the industreal stagnation befor and after the deppresion//

=My narritive=

With the prosperity of the 1920s and over manufacturing the price of goods went down and people didn't need anymore manufactured goods. Resulted in factories running less and less until there were only a few needed. If there’s no production than there’s a stand still of maufatureing or industrial stagnation.

To address the problem the first thing that president did was the Hoover's administration when Congress, caved in to special interests and passed the Hawely Smoot tariff Act in 1930. The measure hiked up tariffs to high levels. The president signed the bill into law over the objections of more than 1,000 economists. Every major trading nation protested against the law and many immediately retaliated by raising their tariffs. The impacts on international trade were catastrophic. After the new tariff there was the NRA or national recovery administration. The NRA attempted to revive industry by raising wages, reducing work hours and reining in untamed competition. The NRA was ruled unconstitutional by the Supreme Court in 1935; however, the majority of its collective bargaining survived.

In general, American industrialists did not like NRA because it didn't allow them to raise prices or cut wages once they were in recovery. Hoover could not force industrialists to sign codes. He would withhold NRA's popular blue eagle seal of approval as a bargaining tool to persuade businesses to adopt them. they were put on store windows and hung to show they were participants. Criticism began when it was shown that larger industrial manufacturers were shaping codes to suit their own needs. Critics also noted that some NRA codes actually limited production. people were not in favor of this for many different reasons but mostly the fact that it gave too much power to the government.

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=Reflection= this project was one of the harder one i wasn't able to make and post a video like my classmates but i feel like I've done just was well as they had with they're writing but i enjoyed learning a smaller part of what can happen to our economy and a few different ways they could fix it.