Gerard Swope (December 1, 1872 – November 20, 1957) was an American electronics businessman. He served as the president of

General Electric General Electric Company (GE) is an American multinational conglomerate founded in 1892, and incorporated in New York state and headquartered in Boston. The company operated in sectors including healthcare, aviation, power, renewable energ ...

Company between 1922 and 1940, and again from 1942 until 1945. During this time Swope expanded GE's product offerings, reorienting GE toward consumer home appliances, and offering consumer credit services.

Biography

Swope was born in St. Louis, Missouri, to Ida and Isaac Swope, Jewish immigrants from Germany. He graduated from the

Massachusetts Institute of Technology The Massachusetts Institute of Technology (MIT) is a Private university, private Land-grant university, land-grant research university in Cambridge, Massachusetts. Established in 1861, MIT has played a key role in the development of modern t ...

in 1895. He married Mary Dayton Hill. He was the brother of Herbert Bayard Swope, and father of Henrietta Swope and John Swope, the Hollywood and Life Magazine photographer who married actress Dorothy McGuire. He is possibly best known for his labor relations innovations. At General Electric, Swope implemented numerous labor

reforms Reform ( lat, reformo) means the improvement or amendment of what is wrong, corrupt, unsatisfactory, etc. The use of the word in this way emerges in the late 18th century and is believed to originate from Christopher Wyvill's Association movement ...

, making conditions better for employees with voluntary unemployment insurance,

profit-sharing Profit sharing is various incentive plans introduced by businesses that provide direct or indirect payments to employees that depend on company's profitability in addition to employees' regular salary and bonuses. In publicly traded companies t ...

, and other program that were considered radical in their day. Swope increased sales and overall efficiency (economics), earning high profits and market share and focused on employee training, retention, and loyalty. Before the passage of the Wagner Act, Swope "had long supported labor legislation." He served as Chairman of The Business Council, then known as the Business Advisory Council, for the

United States Department of Commerce The United States Department of Commerce is an executive department of the U.S. federal government concerned with creating the conditions for economic growth and opportunity. Among its tasks are gathering economic and demographic data for busi ...

in 1933.The Business Council, Official website, Background
Swope's other Roosevelt administration roles included member, Industrial Advisory Board of the National Recovery Administration (NRA) (1933); member, Bureau of Advertising and Planning of the Department of Commerce (1933); chairman, Coal Advisory Board (1933); member, National Labor Board (1933); member, President's Advisory Council on Economic Security (1934); and member, Advisory Council on Social Security (1937-1938). Swope was Assistant Secretary of the Treasury in 1942, when he was chairman of the Committee to Study Budgets of Relief Appeals for Foreign Countries. For his work, he won the Hoover Medal. He died in

New York City New York, often called New York City or NYC, is the most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the most densely populated major city in the U ...

in 1957. In 2005, Forbes Magazine ranked Swope as the 20th most influential businessman of all time.

Swope Plan

In September 1931, Swope presented a proposal for recovery. Under Swope plan, the Federal Trade Commission would supervise trade associations established for each industry. Trade associations would cover every company with at least 50 employees after three years. Associations would regulate output and set prices. Workers would receive life insurance, pensions, and unemployment insurance paid for in part by employers. The

Chamber of Commerce A chamber of commerce, or board of trade, is a form of business network. For example, a local organization of businesses whose goal is to further the interests of businesses. Business owners in towns and cities form these local societies to ...

and other conservative groups provided enthusiastic support. President

Herbert Hoover Herbert Clark Hoover (August 10, 1874 – October 20, 1964) was an American politician who served as the 31st president of the United States from 1929 to 1933 and a member of the Republican Party (United States), Republican Party, holding o ...

, who strongly supported voluntary trade associations, denounced the plan for being compulsory, inefficient, and monopolistic. In an oral history interview,

Leon H. Keyserling Leon Hirsch Keyserling (January 11, 1908 – August 9, 1987) was an American economist and lawyer who served as chairman of the Council of Economic Advisers from 1950 to 1953. During his tenure, he advised President Harry S. Truman on the economi ...

said the New Deal's

National Industrial Recovery Act The National Industrial Recovery Act of 1933 (NIRA) was a US labor law and consumer law passed by the 73rd US Congress to authorize the president to regulate industry for fair wages and prices that would stimulate economic recovery. It also ...

"started as a trade association act. The original draft of the act grew out of the so-called Gerard Swope plan for Recovery." When asked in November 1933 about an updated Swope Plan, President Roosevelt said, "Mr. Swope's plan is a very interesting theoretical suggestion in regard to some ultimate development of N.R.A."

Honors

* Hoover Medal, 1942 * Legion of Honor (France) * Order of the Rising Sun (Japan) * Honorary doctorates from Rutgers, Union, Colgate, Stevens Institute of Technology, and Washington University in St. LouisBook Rags, Gerard Swope Biography

References

{{DEFAULTSORT:Swope, Gerard 1872 births 1957 deaths Businesspeople from St. Louis American people of German-Jewish descent Massachusetts Institute of Technology alumni American manufacturing businesspeople