Word: tnec
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...based on statistical studies of busy-brained Economist Leon Henderson, who predicted the crash of October 1937 the spring before. He contended then that greedy Business, by raising prices too soon and too fast, would deflate the recovery boomlet of 1936-37. If the executive wing of TNEC has a preconceived case to prove and to act upon with legislation many months hence, this is it: that large concentrations of corporate wealth and productive capacity have, in various industries, anti-social powers which must be curbed by the Federal power. But after Mr. Henderson and the Janizariat and the President...
...best damned no-trump player in the United States," Economist Leon Henderson, who used to work for the Russell Sage Foundation until he was taken to Washington for NRA, after the death of which he buzzed around aimlessly until the Janizariat learned his worth and put him in as TNEC's executive secretary. Through his swift and durable head must pass all the data presented to the Committee, timed and spaced for maximum clarity and effect. He summed up for his economist colleagues, raising Mr. Lubin's estimate of national income "lost" in Depression to 293 billions, reminding...
...gossip was that the Administration group in the Temporary National Economic (Antimonopoly) Committee had definitely swiped control from Senator O'Mahoney. At least the committee last week sent out a batch of subpoenas without Chairman O'Mahoney's knowledge. Nonetheless, Senator O'Mahoney is still TNEC's titular chief and when he rose before the New York Board of Trade for his first complete explanation of his committee's purpose, Business sat up and took notice. Excerpts...
Reactions of Business to this were for the most part grudging acquiescence tempered with considerable confusion which the New York Times best expressed: "It would be odd indeed if an inquiry which began by attacking the evils of monopoly should end by attacking the evils of competition." Meanwhile, TNEC announced that its first attack would begin with hearings on November 14 on the patent situation in the glass industry and the proxy battle over the Chesapeake & Ohio Ry, last spring...