Word: jonesism
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Dates: during 1970-1979
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By the mid-1980s, this job-seeking cohort will be down to 7.5%, and unemployment will be much less severe. Therefore, Jones argues, "we shouldn't put in place a number of permanent job-creating programs."
What we should do, he says, is enact ambitious but limited ones. Jones asks fellow businessmen to support the CETA (for Comprehensive Employment and Training Act) programs, which subsidize companies to hire and train the unskilled young. He applauds Carter's call for $400 million in the '79 budget to...
During World War II, the Government spurred construction of defense plants by offering "certificates of necessity," which allowed companies to deduct the costs from their taxes in only five years. Now, says Jones, the Government should permit fast write-offs for the plants that companies build in pockets of youth...
Jones says that one of his favorite salesmen is AFL-CIO President George Meany, and the old plumber has allied with the GE boss on many issues. Once when Jones congratulated Meany for selling an increase in the investment tax credit on Capitol Hill, Meany said: "Hell, the trouble with...
In his talks with Carter, Jones uses the right buzz words. If businessmen are going to risk money to create jobs, he says, they have to earn better than the current 4% real return on investment, which is way down from the almost 10% of the mid-1960s.