An American trade school in the 1920s failed to teach students the lessons about trade-negotiating in the 1930s that led to the Great Recession, according to an article in The New York Times on Monday.
The article said the trade school, known as the International Association for the Advancement of Science, failed to take advantage of a series of reforms that began in the early 20th century to make trade more efficient and fair.
The school has since closed.
The Times article said that a new set of reforms led by US President Donald Trump in the late 1930s helped the trade and manufacturing industries to thrive and the economy grew by $6.3 trillion.
The newspaper said the new reforms had included the introduction of the modern-day trade mark, which allowed US firms to avoid paying customs duties on imported goods.
But the paper said that many trade students did not know that trade marks are a part of the US economy and that they often have very little impact on commerce.
It added that in addition to the trade mark reforms, the US government began the process of abolishing the National Labor Relations Board in 1973.
The National Labor Rights Act was passed in 1947 to prevent employers from threatening employees’ rights, and the American Civil Liberties Union is suing to overturn the act.
The New Yorker said the reform effort was the culmination of a decade of efforts by the Trump administration to undo the reforms, which included the abolition of the National Institutes of Health and the National Endowment for the Arts, the New Yorker wrote.
The paper said the Trump transition team was pushing a plan to abolish the government’s Office of Information and Regulatory Affairs, which administers the trade marks system.