Word: inflationitis
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Dates: during 1960-1969
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After the NATO meetings, Nixon was to confer with Common Market Commission President Jean Rey, a doughty Belgian Eurocrat who once observed: "Building Europe is like building a Gothic cathedral. The first generation knows that they will never see the work completed, but they go on working." Among the topics...
DESPITE the Government's anti-inflation campaign-which many employers would like to take to heart by holding down salaries-everybody seems to be earning more and more these days. Congress recently doubled the U.S. President's salary to $200,000, while boosting the pay of its own...
Diversion of able-bodied Biafrans to defense has weakened further Biafra's agricultural output. Dislocation of markets and transportation snafus have spurred inflation to astronomical heights.
On the theory that low-wage jobs are better than none at all, Neil Jacoby, a U.C.L.A. economist and former Eisenhower adviser, urges an easing of minimum wage laws to encourage employment of marginal workers. Ultimately, the best way of reconciling price stability with high employment is to increase labor...
Any successful drive against inflation would cause some dislocations in the job market. It would also temporarily result in generally lower increases in corporate profits, returns on investment and wages. "If we do manage to restore relative price stability, it won't be painless," says Norman Robertson, economist for...