National Industrial Recovery Act Law and Legal Definition

The National Industrial Recovery Act of 1933 is a U.S. federal statute. The object of the Act is to relieve the serious depression and unemployment that followed the stock-market crash. The Act regulates the industry and permit cartels and monopolies in an attempt to stimulate economic recovery. The power to regulate the industries is authorized to the President.

The Act establishes a public works program.

The Act was amended by the National Labor Relations Act in 1935.