How did the National Industrial Recovery Act of 1933 seek to promote economic recovery?

Question

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The National Industrial Recovery Act of 1933 sought to promote economic recovery by allowing businesses to cooperate in limiting production, establishing prices, and setting workers' wages. This was done through the establishment of the National Recovery Administration (NRA), which encouraged industries to create codes of fair competition that included minimum wages and maximum working hours. The idea was that by setting these standards, businesses would avoid destructive competition and stabilize prices while giving workers a fair wage. This approach to economic recovery was known as "industrial self-government."

How Did the National Industrial Recovery Act of 1933 Seek