Government Initiatives: Historical Overview

The National Recovery Administration of 1933 was a systematic plan for national economic recovery, stimulating production and business competition by regulating prices, output and trade practices. The NRA was not effective because of bureaucratic entanglements, leaving much power for economic recovery in the hands of business and industry leaders.

The Agricultural Adjustment Administration gave relief to farmers, involved the federal government in agricultural planning and pricing. The AAA established subsidy farming and raised farm income, saving many farmers' livelihoods and protecting the nation's food supply.

The Tennessee Valley Authority of 1933 built dams and water projects, delivering cheap electricity to the South. The TVA showed how the government could improve the socioeconomic conditions of an underdeveloped region.

The Wagner Labor Relations Act of 1935 guaranteed workers the right of collective bargaining, election of union representation, and ensured fair investigation of unfair labor practices. The Act helped establish strong unions.

The Works Progress Administration, 1935-43 gave work to many unemployed through building and improvement programs, advancing economic recovery and strengthening the infrastructure as well as natio

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and returning to Egypt land won by Israel in an earlier war. Although the Accords did not lead to the regional peace and establishment of a Palestinian state which Carter hoped for, they did establish at least the possibility of peace in the region by bringing together two sworn enemies. Reaganomics was the supply-side economic theory upon which the Reagan economic plan was based which was supposed to stop the recession, inflation, and high interest rates of the Carter years. Reaganomics was based on tax cuts combined with cutbacks in government spending, which was supposed to encourage investment in new and expanding businesses, which would in turn create new jobs and capital. What actually happened was tax cuts, which primarily benefitted the wealthy, cutbacks in social spending, and massive increases in military spending which created an even more massive budget deficits and a federal debt which may never be paid off. The Iran-Contra scandal of the Reagan administration was an illegal and dangerous fiasco in 1986 which combined sales of arms by National Security Council employees to the Iranian government (which was supposed to be the dreaded enemy of the U.S.), the use of Israel as a go-between, and the sending of the pro
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