Word: laborer
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Dates: during 1960-1969
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...weeks ago, the President bitterly attacked Congress for its inflationary tendencies and threatened to veto the "Christmas tree" tax bill. Last week he added the massive Labor and Health, Education and Welfare appropriations bill and a relatively minor coalmine-safety bill to his possible veto list. Said Nixon in a letter to Republican congressional leaders: "I cannot at this critical point in the battle against inflation approve so heavy an increase in federal spending...
Economists tend to agree on the business profile for 1970: a rise in jobless ranks to 4¼% or 4½% of the labor force; 4% price inflation, probably tapering off toward year's end; sluggish 2% real growth in the over-all economy, which will expand from $933 billion to $985 billion or $990 billion. A few sectors of business anticipate substantial difficulties. Auto manufacturers (except Ford) have already curtailed production a bit, and some retail merchants figure that they will have to hustle to maintain their sales volume. "The consumer is beginning to stiffen up," says Ralph Lazarus, chairman...
...nation's resources are to cover its future needs, Government, business and labor will have...
FOOD. The Department of Labor food-price index jumped 5% from January to October. In Pittsburgh, the price of eggs almost doubled overnight from 43? to 83? per dozen. The price of pork chops in Boston increased from 99? to $1.39. One shopper in Cuyahoga Falls, Ohio, Mrs. Richard Davis, protested: "This can of soup had four prices on it when I bought it." The final price was 11? more than the first. The nickel Hershey bar vanished, and practically nobody could find a 10? cup of coffee...
...followers?though that can be extreme?but by the extent to which his ideas have altered the thinking of his opponents. The mixture of supreme self-confidence and good-humored needling expresses the personality that makes some of Friedman's sharpest critics consider themselves close personal friends. One admirer, Labor Secretary George Shultz, quotes a former colleague at the University of Chicago as saying: "I wish I were as sure of anything as Milton is about everything...