The New Deal's National Industrial Recovery and Wagner Acts of 1933-34 countered productivity growth by fostering monopolies and higher wages.
http://www.bellinghamherald.com/2013/01/11/2830201/calls-for-more-engineers-and-factories.html
http://www.bellinghamherald.com/2013/01/11/2830201/calls-for-more-engineers-and-factories.html
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