Word: depressionitis
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Dates: during 1950-1959
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A Yorkshire miner's son who went into the pits at 14, Frank Cousins switched to truck driving when depression made mine jobs scarce. Humping meat and machinery long distances at low pay, he caught the eye of Ernie Bevin just before World War II, and became a T.W.U...
¶ Howard Joseph Morgens, 46, will succeed Neil McElroy, 52, as president of Procter & Gamble when McElroy becomes Secretary of Defense Oct. 1. Mc-Elroy's longtime protégé, St. Louis-born Soapmaker Morgens graduated from Washington University ('31) and Harvard Business School ('33), first...
Few words glower more darkly out of the memory of the Depression than unemployment (24.9% of the working force at the 1933 depth). Yet when the Air Force canceled its $500 million Navaho missile project last month, and Los Angeles' North American Aviation Inc. direly proclaimed that it would...
In detail, the Los Angeles situation was perhaps rosier than other U.S. industrial areas (Detroit, in fact, was hurting as auto plants got ready to shut down for changeovers to 1958 models). But it underscored an important element of the continuing wage-price rise: a nationwide shortage of labor, from...
After farm prices sank in the '20s and '30s, the New Deal bolted together the prototype support machinery. Far from dismantling it and building a sounder model as the Depression gave way to postwar national prosperity. Congress kept attaching gimmicks and gadgets. Meanwhile, what Agriculture Secretary Ezra Taft...