Word: businessmen
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Dates: during 1940-1949
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...greatest state in the U.S. and Dallas is the greatest city in Texas and the Rio Grande is the greatest insurance company in Dallas." This bit of bragging, down to the last note in its descending scale, was a fairly faithful expression of the exuberance and confidence of businessmen in 1948. They thought that the U.S. had plenty to brag about; it had poured forth the greatest flow of goods and services in history. It was the first real postwar year in the sense that most of the Cellophaned dreams of the admen could be readily bought, even if most...
...problem for 1949 was for the nation to do so, adjust itself to a boom which had changed its character. It was no longer chiefly based on scarcities and stored-up war demand, but on full employment, and replacement demand, shored up by enormous federal spending. Businessmen would have to cut their prices to a new pattern of shrinking markets in many lines; labor would have to recognize that decreasing employment would bring a sort of buyers' market there also. It might have to reconsider "fourth round" wage demands in the light of benefits from a drop...
...Turn. With its boom, the U.S. had high prices. Yet the notable event of the year was not that prices had scooted up to the highest peak of the postwar boom-as they had in midsummer-but that by autumn they had started to come down. U.S. businessmen who had been preaching to the world that production-and not rationing and controls-was the cure for inflation had finally shown the preaching to have the ring of economic gospel. The buyers' market swept in with old-fashioned price-cutting competition...
...Kilter. On top of these burdens, Congress cut taxes by $4.8 billion. In the sense that the cut put extra cash in the hands of consumers to spend, that also proved to be a burden on the economy. Retail sales started up again. The businessmen of good will-such as International Harvester's Fowler McCormick-who had cut prices in hopes of starting a healthy downtrend all around, had to change course; they put prices up again. The hope had been that the U.S. would be able to add the burdens of ECA and rearmament without more inflation; that...
Penance in Albany. Hamilton was quick to note the prevailing temper and character of the towns he visited. Philadelphia, with its preponderance of Quaker businessmen, he found dull: "I never was in a place so populous where the gout for publick gay diversions prevailed so little . . . Some Virginia gentlemen . . . were desirous of having a ball but could find none of the feemale sex in a humour for it." New York (pop. 11,000) pleased him better, especially the conversation and the women, but in Albany the local custom of asking strangers to kiss the women "might almost pass...