By the start of 1937, things were looking up for the U.S. economy. Although the Supreme Court had struck down both the NIRA and the AAA—the chief pillars of the original New Deal's recovery plan—some time earlier, like a glider released by its tow plane, the recovery…

Understanding the NRA

"Without Roosevelt’s intervention, the economic recovery that lasted from 1933 to 1937 would have been weaker and shorter—-not unlike our own recovery after the Great Recession." (David Weiman, "Imagining a World without the New Deal," The Washington Post, August 12th, 2011.) *** In the previous installment to…