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Measures aimed at normalizing production were reflected in the National Industrial Recovery Act (NIRA), adopted on June 16, 1933. This law was based on a plan proposed in 1931 by General Electric President Gerard Swope, approved by the US Chamber of Commerce. The law required all business associations to develop codes of "fair competition" that determine conditions, production volume, and the minimum price level. At the same time, antitrust measures were removed from enterprises that adopted such codes. This was beneficial to large monopolies, which, in fact, determined the conditions of production and marketing for their industries. About 557 core and 189 additional codes were drafted, covering more than 95% of workers. The adoption of codes contributed to the forced cartelization of industry.
Article 7 of the NIRA contained measures of a social nature - it imposed restrictions on the duration of the working week and prescribed a mandatory minimum wage. It also recognized the right to organize trade unions and collective bargaining.
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