Stakeholder Capitalism: Postwar to 1960 (1 of 2)
This post discusses the role played by the business community from postwar to 1960, while the next post discusses business political involvement in the 1960s. Subsequent to these two posts, the following posts treat the role of labor similarly.
The business community from the era of the New Deal to the early ’70s often split in its political and governmental activities. On the one side, the US Chamber of Commerce (the Chamber) and the National Association of Manufacturers (NAM), represented what might be called the ultraconservative business community. On the other side were business moderates, often working under the umbrella of the Committee on Economic Development (CED), which was formed in the early ’40s.… Read the rest
Labor: Post-WWII to 1960
An earlier post dealt with the role of the business community and national affairs from the end of WWII to 1960. This post focuses on labor and the business community in the same time period.
Full Employment Act
After the removal of WWII price controls as well as the excess profits tax, unions undertook widespread strikes to protest the rapid end of these war mechanisms. The Truman administration was also concerned about employment. War production had ended and many in the military would be returning to civilian life.
In this atmosphere the administration drafted the Full Employment Act of 1946. The draft was warmly supported by the liberal-labor alliance because it made full employment a right guaranteed to the American people.… Read the rest
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