Word: contraction
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During and after the great depression, workers, employers and the government entered into an implied social contract that afforded Americans a basic level of economic security if they worked hard and took responsibility for their families. In a new TIME/Rockefeller Foundation survey, however, Americans give voice to a very different reality: the 20th century's social contract is unraveling, they say, and almost all of us--8 in 10, in fact--yearn for a new bargain to help meet 21st century challenges...
...September 1932, against the backdrop of a great and deepening depression, presidential candidate and New York governor Franklin D. Roosevelt declared that Americans must "recognize the new terms of the old social contract." Today, amidst the currents of global economic transformation, our challenges are no less substantial. We must again renew the tenets of a timeless bargain, but for a very different future...
...majority of Americans still believe that their kids will live better lives than they did, which means the American Dream isn't exactly dead. (Although America's kids aren't so sure.) But most also believe that the social contract - the benefits corporations and government once guaranteed - is busted and needs to be rewritten to reflect the realities of economic life in a global marketplace. A majority (78%) say there is more risk to their and their family's financial future than in the past, and rely more on their friends and family for financial support. More than a fifth...
...while the young, home-based players are certainly hungrier than the European contingent are to represent their country, their motivation may not be entirely patriotic. Simply wearing the yellow shirt is enough to win them a contract from Europe that will set them up for life - even if it earns them the ire of the fans currently championing their cause...
...when ValuJet bid for a contract to ferry Defense Department personnel, Defense specialists had scrutinized ValuJet's books, inspected its facilities and talked to its pilots, mechanics and managers. The Defense Department had complaints about virtually everything, and its report was breathtaking in the scope of its condemnation. The answer: No contract. ValuJet is not good enough to fly our people...