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Failed Cooperation in Heterogeneous Industries Under the National Recovery Administration

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  • Alexander, Barbara J.

Abstract

A case study, a formal model, and an anaLysis of Census of Manufactures data support a conclusion that cost heterogeneity was a major source of the “compliance crisis†affecting a number of National Recovery Administration “codes of fair competition.†Key elements of the argument are assumptions that progressives at the NRA allowed majority coalitions of small, high-cost finns to impose codes in heterogeneous industries, and that these codes were designed by the high-cost firms under an ultimately erroneous belief that they would be enforced by the NRA.

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  • Alexander, Barbara J., 1997. "Failed Cooperation in Heterogeneous Industries Under the National Recovery Administration," The Journal of Economic History, Cambridge University Press, vol. 57(2), pages 322-344, June.
    • Handle: RePEc:cup:jechis:v:57:y:1997:i:02:p:322-344_01
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    Cited by:

    1. Jonathan B. Baker, 2003. "The Case for Antitrust Enforcement," Journal of Economic Perspectives, American Economic Association, vol. 17(4), pages 27-50, Fall.
    2. Price V. Fishback & John Joseph Wallis, 2012. "What Was New About the New Deal?," NBER Working Papers 18271, National Bureau of Economic Research, Inc.
    3. Normann, Hans-Theo & Tan, Elaine S., 2013. "Effects of different cartel policies: Evidence from the German power-cable industry," DICE Discussion Papers 108, Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
    4. John M. Connor, 2003. "Private International Cartels: Effectiveness, Welfare, and Anticartel Enforcement," Working Papers 03-12, Purdue University, College of Agriculture, Department of Agricultural Economics.
    5. Price Fishback, 2017. "How Successful Was the New Deal? The Microeconomic Impact of New Deal Spending and Lending Policies in the 1930s," Journal of Economic Literature, American Economic Association, vol. 55(4), pages 1435-1485, December.
    6. Nikolaus Fink & Philipp Schmidt-Dengler & Konrad Stahl & Christine Zulehner, 2017. "Registered cartels in Austria: an overview," European Journal of Law and Economics, Springer, vol. 44(3), pages 385-422, December.
    7. William Anderson, 2000. "Risk and the National Industrial Recovery Act: An Empirical Evaluation," Public Choice, Springer, vol. 103(1), pages 139-161, April.
    8. Chicu, Mark & Ziebarth, Nicolas L., 2013. "Multi-market contact and competition: evidence from the Depression-era portland cement industry," International Journal of Industrial Organization, Elsevier, vol. 31(5), pages 603-611.
    9. Jason E. Taylor, 2011. "Work‐sharing During the Great Depression: Did the ‘President's Reemployment Agreement’ Promote Reemployment?," Economica, London School of Economics and Political Science, vol. 78(309), pages 133-158, January.
    10. Taylor, Jason E. & Neumann, Todd C., 2013. "The effect of institutional regime change within the new deal on industrial output and labor markets," Explorations in Economic History, Elsevier, vol. 50(4), pages 582-598.
    11. Chicu, Mark & Vickers, Chris & Ziebarth, Nicolas L., 2013. "Cementing the case for collusion under the National Recovery Administration," Explorations in Economic History, Elsevier, vol. 50(4), pages 487-507.
    12. Alexander, Barbara & Libecap, Gary D., 2000. "The Effect of Cost Heterogeneity in the Success and Failure of the New Deal's Agricultural and Industrial Programs," Explorations in Economic History, Elsevier, vol. 37(4), pages 370-400, October.
    13. Bernard C. Beaudreau, 2019. "How Roosevelt Transformed the National Industrial Recovery Act," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 25(4), pages 375-388, November.
    14. Gary Libecap & James L. Smith, 2001. "Political constraints on government cartelization: the case of oil production regulation in Texas and Saudi Arabia," ICER Working Papers 16-2001, ICER - International Centre for Economic Research.
    15. Alexander, Barbara J, 1997. "The Rational Racketeer: Pasta Protection in Depression Era Chicago," Journal of Law and Economics, University of Chicago Press, vol. 40(1), pages 175-202, April.
    16. Taylor Jason E, 2010. "The Welfare Impact of Collusion under Various Industry Characteristics: A Panel Examination of Efficient Cartel Theory," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 10(1), pages 1-29, October.

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