Word: tnec
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Dates: during 1940-1949
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...this grim lesson in mind, the Administration last April appointed bushel-bellied Leon Henderson as Price Boss. Henderson had no real authority to enforce his price ceilings-or at best, questionable authority. But he had seen the interrelated whole of U.S. industry from the topmost contemporary vantage point, the TNEC's two years and nine months of study. Backed by public opinion, Henderson kept prices down by bluff and loud talk...
Defending these changes, the five ma jority members of FCC, dominated by tall, ambitious Chairman James Lawrence Fly, onetime TVA general counsel and seasoned New Dealer, talked straight antimonopoly language like that familiar around SEC, TNEC, and the Justice Department. His report rejected the alternatives of Government ownership and rigid utility-style regulation. Said the report: "Competition, given a fair test, will best protect the public interest. That is the American system." And it added: "We doubt that the networks have so little faith in the stability of their own enterprise as is suggested by their insistence that the whole...
Such recommendations had a familiar sound; many of them were contained in the letter which Franklin Roosevelt sent to Congress three years ago asking that the committee be set up. Both friends & foes joined in criticism. Editorialized the conservative New York Times: "TNEC . . . proposes to stimulate private enterprise by adopting . . . more . . . Federal controls that have already done so much to burden . . . new enterprise." Said New Dealers Leon Henderson and Isador Lubin, who served on the committee but were too busy with defense work to bother with the final recommendations: "Surely it should be possible, with all this great wealth...
...only on the basis of its recommendations, good or bad, will TNEC finally be judged. It assembled more economic data than has ever been available to business management and business theorists before. No private agency, without power of subpena, could hope to get such an authoritative picture of U.S. business. Because of the expense, no Government agency is likely to tackle the job soon again. For years to come, unless World War II makes pre-war economics obsolete, the TNEC study will provide a factual basis on which U.S. business problems will be approached...
...Four others (Maryland, Pennsylvania, New Hampshire, South Dakota) have new laws in the legislative works. But the trucking industry still is hampered by State-to-State differences in maximum loads, maximum sizes, license fees and port-of-entry restrictions. Of all the interstate trade barriers condemned last week by TNEC (see above), trucking regulations are still in the front rank...