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
Eisenhower dissolved the agency (and all sub-agencies) in 1953.