Word: automaticism
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Dates: during 1950-1959
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Fowler: "Good relations between the U.S. and Canada are not just automatic. They need attention. There has been a lot of talk about how much alike we are. We need to talk about our differences."
Most of the blame lies with the U.S. draft, which furnishes about 30% of Army manpower.* Selective Service law requires that all men scoring ten points (approximately equal to fourth grade) or higher on mental tests must be accepted for induction. During the first five months of 1957, some 38...
The first burst of postwar inflation came when pent-up demand and wartime savings caused such a scramble to buy that shortages turned up everywhere, and most businessmen cashed in by raising prices. Then came the Korean war, and once more a scramble for materials and goods sent prices soaring...
The upward trend of wages was due not only to the scarcity of labor but also to the spread throughout industry of the G.M. idea of automatic increases. This ran counter to traditional business practice because it placed emphasis on a long-term rise in productivity and kept wages rising...
To many economists, alarm over automatic wage increases and administered prices and the cost-push inflation they cause seems exaggerated. They point to the absence of factors that produce a runaway inflation, notably a shortage of goods and an excess of money. The soft spots in the economy are expected...