Economic Institutions

Major trends in economic institutions reflect the breakdown of the "laissez faire" system of policies which relied on automatic market forces to bring the economic adjustment necessary to maintain full use of resources and full employment. Steps to substitute positive controls for automatic forces have been taken pragmatically, in response to the needs growing out of specific situations and the pressures of particular groups seeking relief or secutiry in the face of depression. Efforts to sustain wages and extend capital expenditure immediately after the 1929 collapse were isolated measures undertaken within the framework of laissez faire policies. After 1933, the federal government assumed two new, closely interwoven functions: (1) to make the economy operate and (2) to provide social security. The measures taken to rebuild financial institutions, stimulate and guide industry and agriculture, strengthen the bargaining position of labor, promote international trade, and sustain minimum levels of living constitute steps in economic planning. The war economy accentuates the forces making laissez faire unworkable and increases the trend toward economic planning

Agriculture · Business · Depression (economics) · Economic planning · Economic policy · Economics · Face (sociological concept) · Government (linguistics) · Great Depression · Laissez-faire · Macroeconomics · Market economy · New Deal · Political science · Politics · Position (finance) · Social security · Economic Theory and Policy · Finance · Italy: Economic History and Contemporary Issues · Political Economy and Marxism

• Korean Rotating Credit Associations in Los Angeles

  Ivan Light, Im Jung Kwuon et al.•Amerasia Journal•1990

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  F Kemal Kızılca•Review of Political Economy•2024

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