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Other New Deal agencies, such as the Tennessee Valley Authority (TVA) and the Rural Electrification Administration (REA) helped the NRA by establishing government-run industries to set codes and to gauge whether the productive costs reported by business were accurate or not. The TVA and REA were thus fundamentally programs that might have been envisioned by Veblen: one where engineers determined the fairest and most efficient cost for a resource and civil servants forced businessmen to hew to this standard. The TVA and REA, however, were concerned primarily with the production of electricity; for most industries, the government had no guide to the fair cost of manufacturing (and hence fair price to consumers) save that provided by industry itself. There were other problems. Small businessmen complained they were being "coded out" of competition. Many repudiated the program and announced a return to "free enterprise." Price increases...
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This section contains 280 words (approx. 1 page at 300 words per page) |
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