Final Paper Mgt 330
Abedur Rahman Date: 05/17/2012
Professor Aleksander Lust
MGT 303
Final Exam Paper
Question No. 1: During the great depression, American workers protested, rioted, and struck. During the current recession, they have quietly accepted layoffs and pay cuts. Why is American labor less militant today than in the 1930s? What impact does this have on public policy? Great depression was a worldwide economic crisis, and during Great Depression the unemployment rate rose to record high in the United States. In 1930s unemployment rate was soared by 20 percents. Stock price was declined by 89 percents, and industrial production and construction were almost halt. Unemployment was rising and wages fell for those who were working, business failed, millions of people were homeless, banks were out of business. Farmers were caught in a depression because of the collapse of food prices with the loss of exports markets after World War I. Farmers also lost their lands.
In 1933 than senate passed an unexpected bill to established a 30 hours week at the same weekly pay rate; at the same time corporate leader decided to create a government regulatory agency, they wanted create that kind of agency because they believed that it would help to bring business leader together to set minimum wages, minimum prices, and maximum level of production output. For the hope of elimination wages and overproduction they created the National Recovery Administration. The main reason was corporate leader wanted to gain unprecedented power to change the nature of market failure. At that time moderate conservative leaders also decided to accept the amendments, they thought section 7a wouldn’t cause any problem because there was no enforcement power behind it. But the National Recovery agency was completely failed and section 7a had an overwhelming effect on workers and union organizers. Workers thought that the President of United States wanted them to join in Union. This was one of the reason
Professor Aleksander Lust
MGT 303
Final Exam Paper
Question No. 1: During the great depression, American workers protested, rioted, and struck. During the current recession, they have quietly accepted layoffs and pay cuts. Why is American labor less militant today than in the 1930s? What impact does this have on public policy? Great depression was a worldwide economic crisis, and during Great Depression the unemployment rate rose to record high in the United States. In 1930s unemployment rate was soared by 20 percents. Stock price was declined by 89 percents, and industrial production and construction were almost halt. Unemployment was rising and wages fell for those who were working, business failed, millions of people were homeless, banks were out of business. Farmers were caught in a depression because of the collapse of food prices with the loss of exports markets after World War I. Farmers also lost their lands.
In 1933 than senate passed an unexpected bill to established a 30 hours week at the same weekly pay rate; at the same time corporate leader decided to create a government regulatory agency, they wanted create that kind of agency because they believed that it would help to bring business leader together to set minimum wages, minimum prices, and maximum level of production output. For the hope of elimination wages and overproduction they created the National Recovery Administration. The main reason was corporate leader wanted to gain unprecedented power to change the nature of market failure. At that time moderate conservative leaders also decided to accept the amendments, they thought section 7a wouldn’t cause any problem because there was no enforcement power behind it. But the National Recovery agency was completely failed and section 7a had an overwhelming effect on workers and union organizers. Workers thought that the President of United States wanted them to join in Union. This was one of the reason
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