National Industrial Recovery Act Essay Example | Topics and Well Written Essays - 500 words

National Industrial Recovery consummation - Essay ExampleThe company would not lower price lower than this. To reduce information asymnmetry, the pecuniary policy was put up to balance the non-emergency budget thereby ensuring that everybody was equal in the society. Further, based on the moral hazards exhibited during the great depression, the New Deal was accompanied by an act which restricted the age of babe labor to 16 and above musical com mail service also forbidding hazardous employment.The financial regulation came through and through in curbing the great depression without necessarily affecting the system of capitalism. Amazingly, they resulted to a beneficial capitalistic system through creating a stabilized financial security. Further, they resulted to balance in the distribution of wealth crossways all states and equality among labor and industry. However, they did not last as expected because they resulted to increased national debt while also strengthening bureaucr acy and inefficiency. The rights of the entrepreneurs were also infringed through the financial regulations. Essentially, this led to the need to introduce more effective system to rescue the situation. As shown in the outcome of the New Deal, technology also play a major role in producing the impacts. During the great depression, 1920s, most of the homes were not in a position to use technology as evident by the sub-standard housing, with no electrical appliances. During the integration of the New Deal, modernization came in handy to spur the economy, as shown in the increased preference for electrical appliances.