Word: richberg
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...that the means chosen were not adapted to the ends. Restrictive measures such as price fixing, the prohibition of sales below cost, and the limitations of output are being abandoned, although a year ago these were represented as the only means of curing a demoralized state of industry. Mr. Richberg has even recognized that the process of raising wages in order to "increase purchasing power" may be carried to excess...
...Washington, suave Donald Richberg stroked a soothing hand over the troubled brow of Business when he told the National Press Club that NRA was planning a return to the principle of "good old competition" in certain industries. From Boise, Idaho one of NRA's severest critics grumbled approval. "I assume when Richberg says price-fixing should end." said Senator Borah, "that he means it shall end. If so. the importance of his statement cannot well be overestimated. When you put an end to price-fixing, you have cut the jugular vein of monopoly...
Villain No. 3, singled out by President Green himself, was that famed friend of Labor, Director Donald Randall Richberg of NRA's new Industrial Emergency Committee. Mr. Green was angry with Mr. Richberg because Mr. Richberg had just announced in Washington that employers would be allowed to bargain collectively with individuals and minority groups among their workers...
...those who were laboring under the impression that Big Business was not in the saddle of N.R.A., the statement of Mr. Richberg last Thursday comes, the writer imagines, as a severe shock. To quote him: "These difficulties in N.R.A. have come. . . because of the pressure of businessmen to experiment with de- vices that they thought would do them good and which they have found in many instances are doing them harm." This is why Big Business is protesting the contemplated move by N.R.A. to abandon price control, despite its failure to raise prices. Big Business invented N.R.A. Big Business wants...
...Richberg said further: "Clearly the ultimate assurance of a fair price, in a competitive economy, must be found in the preservation of a fair price competition, and in freedom to produce whatever quantity of goods a free market can absorb." But we beg leave to point out that the whole point in a "competitive economy" and in a "free market" is that the State doesn't interfere in any way with the "quantity of goods" produced. By and large, and in the long run, this takes care of itself, albeit produces much hardship at times. Mr. Richberg's remarks, then...