Introduction -- The underpinnings, precursors, and development of the NIRA -- The NIRA code negotiation process -- The president's reemployment agreement of August 1933 -- Codes of fair competition: industrial planning and collusion under the NIRA -- The NIRA compliance mechanism in theory and...

Intro -- Contents -- Preface -- 1. Introduction -- 2. The Underpinnings, Precursors, and Development of the NIRA -- 3. The NIRA Code Negotiation Process -- 4. The President's Reemployment Agreement of August 1933 -- 5. Codes of Fair Competition: Industrial Planning and Collusion under the NIRA...

This paper explores the nature and causes of the cartel compliance crisis that befell the National Industrial Recovery Act (NIRA) one year after its passage in 1933. We employ a simple game-theoretic model of the NIRA's cartel enforcement mechanism to show that the compliance crisis can largely...