Navy Department

Renegotiation Act Enables Limited War Profit Recovery After Corporate Resistance

1942-04-28 00:00:00 +0000 UTC | Importance: 7/10

Congress passes the Renegotiation Act on April 28, 1942, establishing a process to recapture “excessive profits” from war contractors. While presented as a check on war profiteering, the act’s weak enforcement mechanisms and industry-friendly implementation allow most excessive …

Congress War Department Navy Department Defense contractors Truman Committee war-profiteering corporate-influence defense-industry tax-policy regulatory-capture

War Industries Board Established: Bernard Baruch and "Dollar-a-Year Men" Institutionalize Corporate-Government Fusion

1917-07-28 00:00:00 +0000 UTC | Importance: 8/10

The United States government established the War Industries Board (WIB) to coordinate the purchase of war supplies between the War Department and Navy Department during World War I. The WIB existed from July 1917 to December 1918 to coordinate and channel production by setting priorities, fixing …

Bernard Baruch President Woodrow Wilson War Department Navy Department world-war-i corporate-power government-industry revolving-door institutional-capture