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| The WSB was stalemated in the '''1952 Steel Strikes'''. United Steel Workers of America (USWA) began to threaten strikes in October 1951, seeking wage increases. Plant owners refused to raise wages until they could raise steel prices as well. The [[UnitedStates/OfficeOfDefenseMobilization|ODM]], WSB, and OSP refused all price increases. At the same time, Truman would not publicly oppose USWA; this largely had to do with the upcoming election. When the strike was declared, Truman ordered all steel plants nationalized. Eventually though, the [[UnitedStates/SupremeCourt|Supreme Court]] ruled in Youngstown Sheet & Tube Co. v. Sawyer that the federal government cannot justify seizure of property on a national emergency. Plants were returned, and the strike resumed shortly after. Finally, a settlement was reached that allowed a wage increase. |
Economic Stabilization Agency
The Economic Stabilization Agency (ESA) was an agency charged with managing the U.S. national economy during the Korean War.
Composition
The agency was led by a director.
The agency oversaw the...
- Office of Price Stabilization,
- Wage Stabilization Board,
- Salary Stabilization Board,
- Office of Rent Stabilization,
- Railroad and Airline Wage Board, and
- National Enforcement Commission
History
In 1950, the Defense Production Act granted Truman the power to establish this agency. Effectively:
- raw commodities were nationalized and rationed
- manufacturers were set quotas for munitions
- wage and price freezes were enacted
The WSB was stalemated in the 1952 Steel Strikes. United Steel Workers of America (USWA) began to threaten strikes in October 1951, seeking wage increases. Plant owners refused to raise wages until they could raise steel prices as well. The ODM, WSB, and OSP refused all price increases. At the same time, Truman would not publicly oppose USWA; this largely had to do with the upcoming election. When the strike was declared, Truman ordered all steel plants nationalized. Eventually though, the Supreme Court ruled in Youngstown Sheet & Tube Co. v. Sawyer that the federal government cannot justify seizure of property on a national emergency. Plants were returned, and the strike resumed shortly after. Finally, a settlement was reached that allowed a wage increase.
Eisenhower dissolved the agency (and all sub-agencies) in 1953.