Word: laborâ
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...inflation it breeds. Says Federal Reserve Board Chairman G. William Miller: "The best proof of his commitment [to trimming the budget] is that he can't get re-elected unless he deals with inflation." But if Carter cuts too sharply he will alienate many of the groups?liberals, minorities, labor???who supported him in '76. Senator Ted Kennedy, a potential Carter rival in 1980, has already threatened to fight any reductions in health appropriations. Anticipating an intraparty battle ahead, a Kennedy staffer warns: "There's going to be a lot of blood on the floor...
...since then blacks have been called back to work more slowly. Consequently, some people who had begun to struggle out of the underclass were abruptly thrown back. The underclass has been hurt by the flight of manufacturing firms?many requiring only semiskilled or even unskilled labor???to the suburbs and the Sunbelt. Since 1969 Chicago has lost 212,000 jobs, while its suburbs have gained 220,000; in the same period, New York City has lost 650,000 jobs. From 1970 to 1975, 248 manufacturing plants left Detroit, including branches of the 16 biggest local companies...
...indoctrination sessions. Existing poverty has been exacerbated by the rising expectations that are encouraged by the Chinese leaders, who talk constantly about the splendid present and the glowing future. Young Chinese resent the practice of being sent from the cities to the countryside to learn the virtues of agricultural labor???a practice that Hua says he will continue. Many have sneaked back into urban centers, where they live by stealing...
Labor leaders contend that such a change has already occurred?for the worse for labor???as a result of the wage-price freeze. They have already presented some convincing evidence in behalf of their claim. What is merely a temporary inequity for 90 days would be an intolerable burden if made permanent, they point out, and that is a possibility to be avoided at all costs. Businessmen as well as labor leaders will undoubtedly be called on to compromise on matters of equity in their negotiations with Connally's council, which will become increasingly active in weeks ahead. The final...
...assess their immediate future, the differences can seem vast indeed. To a corporate official looking 90 days ahead, the road appears considerably more free of barriers than it did before Aug. 15. He has a virtual guarantee of stable costs?including one of the fastest rising costs of all, labor???until mid-November and perhaps beyond. More important, he can see opportunity ahead?in an invitation to expand his operation and in the expectation of higher sales, both of which gains have already been reflected in the optimism of a rising stock market. G.M. Chairman James Roche, looking into...