Word: contraction
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Dates: during 1970-1979
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...Prime Minister James Callaghan can succeed in its economic game plan to save the pound-and the British economy. That plan calls for reducing the British inflation rate, currently 14.3% a year, by moderately cutting public spending and holding the nation's militant trade unions to a "social contract" under which they are supposed to limit wage increases to 4½% a year. The government's hope is to hang on through the winter. By spring, according to its script, oil from the North Sea will flow in sufficient quantity so that Britain can begin...
...real estate insurance broker by trade, Toomey was indicted in the mid-sixties for trying to influence the award of the insurance contract on the construction of the Callahan Tunnel in Boston...
...number of Carter advisers, notably Arthur Okun and Charles Schultze of the Brookings Institution, argue persuasively that inflation could be lowered by a "social contract" among Government, business and labor. One formula: the Government would promise workers an increase in real incomes if pace-setting unions agreed to hold wage raises below a certain level. If they did, but price rises continued to eat into wage gains, the Government would cut taxes so that incomes would still go up. Organized labor has ignored or rejected such proposals before. But Schultze thinks that unions could now be persuaded to cooperate...
...concert appearances through 1978. The youngest child of a middle-class family in Chester, Pa., the incomparable Clamma learned to play the cello, clarinet, piano, saxophone and guitar guided by her father, an oil-refinery worker and part-time jazz musician. Before winning a Naumburg Foundation Award and a contract with the New York City Opera Company a year ago, Clamma, a Juilliard graduate, taught music and the poetry of Goethe and Schiller to prisoners on New York's Riker's Island. She hopes to play such operatic rolls as Margherita in Mefistofele and straight dramatic parts like...
...evil that can be cured on an individual basis, the new legislation leaves the foundation of a national health care system to the random career choice of thousands of medical students. Beginning next year, each student who needs financial aid but does not qualify for a school scholarship can contract with the federal government for yearly loans, paying the sum back after graduation in the form of primary care practice in the National Health Service Corps. Through these contracts, the government hopes to direct 50 per cent of all first year physicians into either general, family or pediatric medicine...