The Crisis of the New Business Order

1. The Achievements of the New Corporate Order--1920s
   1. Efficient Mass Production--Ford and the River Rouge Plant
   2. Spreading Benefits to the Masses
      1. The Democratization of Taste
      2. Benefitting the Workers
         1. The Five-Dollar Day and "Fordism"
         2. "Welfare Capitalism"
   3. The Selling of Capitalism--Public Relations and Advertising
   4. Buoyant Confidence--The 1920s Bull Market
2. The Great Depression
   1. Why?
      1. "Underconsumption"?
      2. Savings Wipeout--The Great Crash
      3. Federal Reserve Ineptitude--The Great Contraction
   2. Effects on Business
      1. "Big Business"--Stable Prices, Drastic Cuts in Production
      2. Small Business--"Cutthroat" Competition
3. The New Deal
   1. General Character--Diverse, Experimental
   2. The Early New Deal--Restabilizing the Economy
      1. The National Recovery Administration (1933-1935)
         1. Cartelizing Industry
         2. Stabilizing Prices
         3. Restricting Production
         4. Regulating Wages and Hours
      2. The Agricultural Adjustment Administration (1933-1935)--The First Farm Program
   3. Renewed Regulatory Impulse
      1. Finance
         1. Banking Reform
            1. Deposit Insurance
            2. Separation of Investment, Commercial Banking--The Glass-Steagall Act
            3. A Strengthened Federal Reserve
         2. Making Investments Transparent--The Securities and Excahnge Commission
         3. New Banking Institutions for Farmers, Mortgages (Fannie Mae), etc.
      2. Extending Regulation of Competition
         1. Transportation--Trucking and Airlines
         2. "Sick" Commodities--Petroleum and Coal
         3. Agriculture
            1. Guaranteeing Farm Prices--"Parity"
            2. Aiding Innovation
4. The Labor Revolution
   1. Impact of the Depression
      1. The Collapse of "Welfare Capitalism"
      2. Chaos on the Workfloor
         1. The Struggle for Work
         2. Intensification of Work--The "Stretch-Out" and the "Speed-Up"
   2. A New Labor Militance
      1. The Committee for Industrial Organization (CIO) and Industrial Unionism
      2. The "Sit-Down" Strikes of 1937
   3. Federal Protection for Workers' Organization
      1. Section 7(a), National Industrial Recovery Act (1933)
      2. National Labor Relations Act (1935)
         1. "Unfair Labor Practices" Defined
         2. Enforcement--The National Labor Relations Board (NLRB)
      3. Federal Workplace Regulation--The Fair Labor Standards Act (1938)