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substantially less than one, as was the multiplier for retail sales. The impact of the federal spending on employment was negligible … of employment in both the 1930s and in the current era"--National Bureau of Economic Research web site …
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The paper examines changes in wage and hour labor regulation between 1898 and 1938. Many see the 1905 Lochner Supreme Court decision striking down hours limits for men as the beginning of 30 years in which labor regulation was stymied by the doctrine of "freedom of contract." That issue played a...
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