Word: labors
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Dates: during 1990-1999
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...Saturday, Hunter slipped into a coma. Dr. Tuttle upgraded him to highest-priority status and put out a call through the organ-transplant network for a liver. Labor Day weekend, normally a period offering a bumper crop of organs because of holiday traffic deaths, came and went without a prospect. TUESDAY 10:00 A.M. Todd remains in a coma, his liver shot, his skin yellow to his toes. Retribution is in the air midmorning when Brown reaches Trotter, demanding to know why Hunter is not at UNC. Their conversation is "spirited," according to Trotter, "emotionally charged," according...
...completely as the internal-combustion engine and electric power did, beginning roughly a century ago. But why is there so little hard numerical evidence that this is happening? In particular, if computers are sparking a new industrial revolution, why have the numbers that measure the growth in output per labor-hour of the U.S. economy been so persistently anemic? As Nobel prizewinner Robert Solow summarized in what economists now call the Solow Paradox, computers are everywhere--except in the productivity statistics...
Robert Gordon, who occupies the prestigious Stanley G. Harris chair of economics at Northwestern University, thinks profits may be hit even harder, though he offers no numbers. His explanation: labor shortages caused by the past boom are still severe and likely to remain so even with a slowdown in the growth of output. That condition will push up wages faster than companies will be able to raise either prices or productivity--that is, output per hour. Productivity is in fact already sliding, as it usually does at this late stage of a business expansion, the increasing computerization of the economy...
Gordon, however, points out that if wage increases cut into profits, that is good news for workers, at least those who stay off the unemployment lines. Labor is likely to recapture some of the share of national income it lost to profits in the early '90s. To the extent that wage increases run ahead of price boosts, workers' real incomes will also rise absolutely as well as relatively. And that is likely to happen, despite the fact that most of the economists expect inflation to quicken a bit from its current astonishingly slow pace--an annual rate of less than...
...Father Edward Boyle of theCatholic Labor Guild came out to report on theprogress made by the delegation...