Word: inflationitis
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Dates: during 1960-1969
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Answers in Part. What accounts for labor's militancy? One reason is prosperity. In a time of low unemployment (now 3.8%), the worker commands a premium. Other goads are inflation and ever rising local and state taxes-not to mention the threat of a new 10% fed eral surtax...
They differed on details but demonstrated a remarkable consensus: prompt imposition of a surtax is vital to curb inflation in an overheating economy, reduce a Government deficit that may hit $29 billion this fiscal year and head off a repetition of the credit squeeze that rocked business in 1966.
Canova, one of the most celebrated sculptors of his day, known as "the new Phidias," had carved an earlier Perseus for a Milanese nobleman at his atelier in Rome. It was inspired by the celebrated 1st century Roman marble of Apollo Belvedere, which had recently been carried off from the...
Nothing doing. Joining Republic almost immediately, U.S. Steel pointed out that it, too, was "very mindful" of the inflation problem, especially the way that higher costs plus an automatic 3% rise in employee payments Aug. 1 were squeezing earnings. Other producers followed, and the Administration did not press its fight...
One reason for the bureaucrats' suspicion is simply that the August industrial price surge caught Washington by surprise. Through the months of relative price peace, the Government's inflation-watching machinery has grown rusty. Commerce Secretary Alexander Trowbridge, who had scheduled a routine hold-the-line price pep...