Word: depression
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Dates: during 1950-1959
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...result is thousands of businessmen are seeking bigger outlets abroad." There is a limit to the total dollar volume of both foreign and domestic trade in domestic consumption. To maintain a healthy domestic economy we must consume all of our own production plus the imports, else the mounting inventories depress values to depression levels. We must not add world supplies to domestic supplies . . . We simply cannot consume that much production...
When the U.S. sneezes, according to an old economic adage, the world catches pneumonia. But that was in the days when the U.S. economy was operating on such a narrow margin that even a slight downward dip would dry up imports and thus help depress business everywhere. In 1937-38, for example, industrial production dropped 21% and imports dropped 36%. But in 1954-to the delight of the free world and the consternation of Communists everywhere-the U.S. in a recession still proved to be so strong that its case of sniffles hardly affected world trade...
...time to speak came soon. With peace, the bitter recollection of bread lines, hunger marches, closing shipyards and pits, employers who exploited unemployment to depress wages under prewar Tory governments flooded back into British memories. The Tories were unceremoniously bundled out of office. Butler himself survived by only 1,158 votes...
Many unions fear that older workers who are on a pension would take lower pay and thus depress all wages. But the attitude is changing. C.I.O. President Walter Reuther now denounces compulsory retirement programs as "socially wrong and economically unsound." Actually, the enforced idleness of oldsters is estimated to cost the nation $5 billion a year in lost production, more than the annual cost of all industrial and governmental pension systems...
...that it would shift more of the tax burden from corporations to individuals. But businessmen themselves are divided on the tax. The National Association of Manufacturers advocates a manufacturer's tax. The Committee for Economic Development and most retailers fight a sales tax for fear that it might depress sales. But on balance all the admitted evils of a sales tax seem less than those of the probable alternatives of again boosting income and corporate taxes. At least, a federal sales tax would make all citizens conscious of the cost of Government, and by so doing, increase by that...