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De la Grande Guerre à la National Recovery Administration (1917-1935). Les arguments en faveur d’une concurrence régulée dans les États-Unis de l’entre-deux-guerres

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  • Thierry Kirat
  • Frédéric Marty

Abstract

The experience of the war economy in the United States has reinforced the influence of arguments in favour of managed competition. Extending the claims of scientific management to the economy as a whole, this approach aimed at the coordination of firms through the exchange of information, which was seen as a necessity in terms of both economic efficiency and responses to cyclical fluctuations. Such a prospect led to a drastic reduction in the application of competition rules. However, the proposals that emerged during the 1929 crisis, which led to the reproduction in peacetime of the war economy experience at the risk of leading the American economy to cartelization under the umbrella of the federal state, were rejected by President Hoover, despite his defence in the 1920s of a model of regulated competition. Paradoxically, President Roosevelt resumed these projects within the framework of the First New Deal. This article deals with the arguments that were put forward to evade the competition rules and explains why the Democratic administration finally decided to return to a strict voluntary enforcement of the Sherman Act. JEL codes: L40, L51, N12

Suggested Citation

  • Thierry Kirat & Frédéric Marty, 2021. "De la Grande Guerre à la National Recovery Administration (1917-1935). Les arguments en faveur d’une concurrence régulée dans les États-Unis de l’entre-deux-guerres," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(1), pages 239-275.
    • Handle: RePEc:cai:reofsp:reof_171_0239
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    References listed on IDEAS

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    1. Bruce, K. & Nyland, C., 1993. "Scientific Management and Market Stabilisation, 1914-1930," Economics Working Papers wp93-6, School of Economics, University of Wollongong, NSW, Australia.
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    6. Allyn A. Young, 1915. "The Sherman Act and the New Anti-Trust Legislation: II," Journal of Political Economy, University of Chicago Press, vol. 23, pages 305-305.
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    10. Laure Bazzoli & Thierry Kirat, 2018. "L’invention de l’indemnisation du chômage aux États-Unis. Le capitalisme raisonnable, l’emploi et la responsabilité sociale de l’entreprise selon J.R. Commons et l’école du Wisconsin," Revue française de socio-Economie, La découverte, vol. 0(2), pages 165-184.
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    More about this item

    Keywords

    war economy; cartelization; competition rules; scientific management; information exchange;
    All these keywords.

    JEL classification:

    • L40 - Industrial Organization - - Antitrust Issues and Policies - - - General
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
    • N12 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - U.S.; Canada: 1913-

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