Word: earn
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Dates: during 1970-1979
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...they wish, and businessmen can compete uninhibitedly for their favor, then capital and labor will flow "naturally" (a favorite Smithian word) into the uses where they are most needed. If consumers want, say, more bread than is being produced, they will pay high prices and bakers will earn high profits. Those profits will lure investors to build more bakeries. If they wind up turning out more bread than consumers want to buy, prices and profits will fall and capital will shift into making something that consumers need and desire more?shoes, perhaps. Thus the businessman seeking only his own profit...
...right to subsistence when his labor will not fairly purchase it." David Ricardo worked out what became known as the "iron law of wages." His thesis: workers in the long run would get only the bare minimum necessary to keep themselves and their families alive. If they temporarily should earn more, they would breed so many children that competition for jobs eventually would drive wages down again. Ricardo did not think that this state of affairs was desirable?only inevitable. Nonetheless, he and Malthus earned for capitalist economics a name that it has never shaken; Thomas Carlyle had them...
...raise its wages to the level of private industry and also to win valuable allies against congressional critics, the Postal Service in 1973 gave the seven postal unions an overly generous settlement: an increase that amounted to 23% in wages and benefits over two years. Postal employees now earn considerably more than comparable Government workers; a beginning postal clerk, for example, makes $10,898, while a Government clerk in a roughly similar area starts at $8,500. Most remarkably, if postal workers were paid at the same rate as Government employees, there would be no postal deficit at all this...
...time of the robbery, Inspector Jacques Clouseau was standing outside the bank, arguing with a beggar. The poor fellow was trying to earn a few centimes playing the accordion, while his pet monkey collected coins in a tin cup. Now you will recall from The Pink Panther and A Shot in the Dark that Clouseau has an immaculate and quite literal respect for the law. This is, in fact, why he is in uniform, on foot patrol, instead of dashing about in plain clothes and solving glamorous crimes. His strict adherence to the book, as well as an unshakable simple...
...reaches New Orleans, Houston or other ports. There inspectors' employed by private agencies but licensed by the U.S. Department of Agriculture grade the grain and also certify that ships are clean enough to carry it in their holds. Altogether, USDA has licensed about 3,000 inspectors, who earn an average salary of $10,000 a year; their relatively modest incomes are often supplemented by overtime wages and seasonal bonuses. Since loading delays can cost shipowners up to $20,000 a day, it is often more economical to bribe inspectors to approve their ships than take the time to clean...