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National Recovery Administration

(Encyclopedia) National Recovery Administration (NRA), in U.S. history, administrative bureau established under the National Industrial Recovery Act of 1933. In response to President Franklin Delano…

South Sea Bubble

(Encyclopedia) South Sea Bubble, popular name in England for the speculation in the South Sea Company, which failed disastrously in 1720. The company was formed in 1711 by Robert Harley, who needed…

Greenspan, Alan

(Encyclopedia) Greenspan, Alan, 1926–, American economist, chairman of the Federal Reserve Board (1987–2006), b. New York City. Influenced by the philosophy of Ayn Rand, Greenspan is a strong…

subsidy

(Encyclopedia) subsidy, financial assistance granted by a government or philanthropic foundation to a person or association for the purpose of promoting an enterprise considered beneficial to the…