Which strategy did the New Deal focus on to stimulate the economy?

The strategy of focusing on the National Recovery Administration (NRA) was central to the New Deal's efforts to stimulate the economy during the Great Depression. The NRA was established in 1933, and its main goal was to promote economic recovery by stabilizing prices, wages, and employment levels. The agency worked to energize industries through the creation of codes of fair competition, which set standards for production, prices, and labor practices. This was aimed at restoring consumer confidence and invigorating economic activity by encouraging cooperation among businesses and workers.

By stabilizing the market and ensuring that businesses adhered to fair practices, the NRA sought to improve the economic landscape in the United States, which had been devastated by the financial crisis. This strategy illustrated the New Deal's broader approach of government intervention in the economy to provide relief and recovery rather than relying solely on market mechanisms.

The emphasis on the National Recovery Administration highlights how the New Deal prioritized collective action and governmental oversight as means to revitalize the economy, distinguishing it from strategies that favored minimal government involvement or relied on external factors like foreign investment.