After further discussion, the two groups reached general agreement on the subcommittee proposal and they formally approved it the following day. President Roosevelt accepted the agreement immediately and the next day announced the formation of a National Labor Board to arbitrate strikes and seek voluntary consent to section 7(a). Corporate moderates had forged a compromise with labor leaders in the way that their general approach to most problems and the earlier efforts of the National Civic Federation on labor issues would lead us expect. In the process they developed a new government structure (another example of state building) and thereby gave renewed legitimacy to collective bargaining and government mediation of labor disputes. In all, the written record provides practically a minute-by-minute account of how the corporate community and organized labor created a new government agency with little or no involvement of the White House, but most of the social scientists that write about the New Deal ignore the work by historian Kim McQuaid (1976; 1979) almost as much as they do that by Gitelman (1988). In any case, the passage of the act is a classic example of how a new law, in this case the National Industrial Recovery Act, can lead to outcomes that no group anticipated or desired, but it is also a demonstration of the importance of government in shaping -- and even supporting -- class conflict.


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The Development Of Credit Unions - Direct Essays

As significant portion of this crisis’ responsibility has been attributed to the lack of effective banking oversight, there has been immense pressure on the next Basel agreement to tackle such issues in order to avoid future crises, or at least decrease their severity.

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Wage-price guidelines aside, by late 1966 tax increases seemed to be the proper remedy for dealing with inflation in a situation in which government spending could not be cut due to the escalation of the Vietnam War and the need to spend money to deal with rising tensions in inner cities. Tax increases for high-income earners and profitable corporations appeared to be especially needed. Johnson completely understood this basic point, but political considerations once again made him hesitate. Asking for a tax increase would be to admit that the Vietnam War was expensive and going badly. It would also incur the wrath of the large number of Americans with strong anti-tax sentiments, and perhaps put the large contingent of new Democratic members of Congress at risk in 1966 in their traditionally Republican districts and states. Equally problematic, the conservative coalition made it clear that the price for such an increase was cutbacks in social spending. But the reductions in social spending sought by ultraconservatives risked more conflict among black activists, organized labor, and city officials.

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Evolution of the Microfinance Sub-Sector in Ghana

When inflation increased to about 5% in 1957 and 1958, mainstream economists and corporate leaders alike expressed both surprise and consternation: inflation within a recession was not something they had anticipated (Schriftgiesser 1960, p. 199). As inflation continued into 1958, the White House announced the creation of a Cabinet Committee on Price Stability for Economic Growth, chaired by Nixon, and including several cabinet members and the chair of the CEA. Allen Wallis, the dean of the business school at the University of Chicago, and an advisor to the corporate moderates' primary policy-discussion group, the Committee for Economic Development, was appointed executive vice chair to carry out the detail work for the committee. The committee issued several reports with the help of economists in the private sector, and sent Wallis on a nationwide speaking tour in an attempt to alert a wide range of civic associations to the grave dangers of inflation.

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How Slavery Affected African American Families, …

The outbreak of World War I changed the power balance between business and organized labor. Supplies of new labor from Europe virtually dried up, the war fueled an economic boom, and the federal government expanded its role in the economy. Many AFL unions took advantage of the situation by calling strikes to gain union recognition, leading President Wilson to support the right of unions to exist and bargain collectively in exchange for a no-strike pledge. To insure a smooth flow of production and secure the loyalty of workers in the face of the many socialist critics of the war, government officials, with the acquiescence of major corporate leaders, instituted a National War Labor Board in 1918 to mediate corporate/union conflicts. Composed of corporate and trade union leaders, it was co-chaired by former President Taft and Frank P. Walsh, the intrepid investigator who had served as chair of the recently disbanded Commission on Industrial Relations. AFL membership increased from two million in 1916 to 3.2 million in 1919, mostly in unions that had existed since 1897, with the ten largest national unions accounting for nearly half the increase (Dubofsky and Dulles 2004, p. 191). While all this was going on, anti-war dissenters from radical unions and the Socialist Party were put in jail.