This is the fifth of a series of studies of the NRA undertaken by the Institute of Economics under the immediate direction of Leverett S. Lyon. Of the earlier studies in the series, one presented a general preliminary analysis of the Recovery Administration, another dealt with a specific controversial trade practice, and two others surveyed the regulatory action of the NRA in certain fields. The present volume is a general analysis and appraisal of the NRA as a whole.
The National Recovery Administration was given a central place in the President's recovery program. Now that the two-year period for which the National Industrial Recovery Act was enacted has almost run, Congress and the country are engaged in an appraisal of the work of the Recovery Administration and in an effort to decide whether it should be allowed to disappear with the expiration of the law upon which it is based or whether it should be continued in its present or in some modified form. To the consideration of this problem the present volume contributes a painstaking and objective analysis of the NRA. The study deals with its organization and operation as an administrative mechanism and with the substantive output in the form of code law as this relates to wages and hours and to trade practices. It analyzes the work of the NRA in industrial relations and appraises the effects of its work on recovery. The publication of this work at the moment when Congressional consideration of the NRA is active makes it particularly appropriate to the Institute's purpose of ascertaining and interpreting the facts concerning current economic problems.