(ICC) Interstate Commerce Commission – Federal agency created in 1887 to regulate the behavior of railroads; regulation in the U.S. began with the creation of the ICC Federal Government regulation of Markets was …but, greatly expanded/accelerated as part of the New Deal Agencies/regulations created under the New Deal included (FCC Federal Communications Commission – 1934) regulates all non-Federal Government use of – the radio spectrum, all interstate communications, and international communications to/from U.S. Civil Aeronautics Authority (CAA 1938) – – regulated all non-military aviation in , including fares and service routes of private airlines National Labor Relations Board (NLRB 1935) – – agency created to conduct elections for labor union representation and to investigate unfair labor practices Securities and Exchange Commission (SEC 1934) – created in response to Stock Market Crash of 1929, – in order to regulate and restore efficiency to financial markets (in part by creating financial disclosure requirements for publically traded firms) Federal Minimum Wage attempted implementation – by FDR in 1933 (declared Unconstitutional by Supreme Court in 1935); established by the passage of the Labor Standards Act of per hour “Fair 1938” (25¢ => $3.77 in 2009 dollars) (iii) Agricultural Adjustment Acts of 1933 and 1938
Interstate Commerce Commission (ICC) – Federal agency created in 1887 to regulate the behavior of railroads; regulation in the U.S. began with the creation of the ICC …but, Federal Government regulation of Markets was greatly expanded/accelerated as part of the New Deal Agencies/regulations created under the New Deal included Federal Communications Commission (FCC – 1934) – regulates all non-Federal Government use of the radio spectrum, all interstate communications, and international communications to/from U.S. Civil Aeronautics Authority (CAA – 1938) – regulated all non-military aviation in , including fares and service routes of private airlines National Labor Relations Board (NLRB – 1935) – agency created to conduct elections for labor union representation and to investigate unfair labor practices Securities and Exchange Commission (SEC – 1934) – created in response to Stock Market Crash of 1929, in order to regulate and restore efficiency to financial markets (in part by creating financial disclosure requirements for publically traded firms) Federal Minimum Wage – attempted implementation by FDR in 1933 (declared Unconstitutional by Supreme Court in 1935); established by the passage of the “Fair Labor Standards Act of 1938” (25¢ per hour => $3.77 in 2009 dollars) (iii) Agricultural Adjustment Acts of 1933 and 1938
13_AmericanExperience_Overhead%20Slides.docx