Bernard Beaudreau

The National Industrial Recovery Act Redux: Technology and Transitions Bernard Beaudreau

In this book, recent advances in the field of game theory, specifically in the area of coordination games (theory and policy) are used to reexamine one of the most far-reaching, yet overlooked pieces of legislation in U. S. economic history, namely the National Industrial Recovery Act of 1933. While dismissed by most as misconceived, misguided, and mistaken, not to mention unconstitutional and anti-American, recent findings in the field of macroeconomic coordination open the door to a new interpretation, one that is more in keeping with the original objectives of the Roosevelt administration.