Word: man-hours
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Through the 1960s, output per man-hour worked?the conventional, though not entirely adequate, way by which productivity is measured?rose on average about 3% a year, a healthy pace that had been maintained since shortly after World War II. In the '70s, productivity growth has averaged only about half that. Some economists long hoped that the slowdown was a cyclical fluke, caused mainly by the recessions of 1970 and 1973-75 (recessions always hurt productivity because companies run high-powered machinery at a slow pace and keep on the payroll workers who do not have much...
...tried to prevent him from meeting with Pope Paul VI in 1964. It is known that the FBI circulated false personal letters in the press and the mails for the purpose of discrediting participants in the anti-war movement. It is known that the FBI's largest dollar and man-hour activity was "No. 1-type activity"--activity aimed at "preventing people from teaching and meeting and speaking," according to the Senate Subcommittee on Intelligence in 1975. "Many of the FBI's targets of the new left were professors at universities," an FBI agent told the Senate subcommittee...
...along in higher prices. Finally, inflation seems to have become self-perpetuating. One example: uncertainty about whether a new factory will repay the costs of building it causes business to hold back on investment in new plant and equipment. The lack of investment reduces potential production and output per man-hour, pushing prices up still further...
Economist Edward Denison of the liberal-oriented Brookings Institution calculates that Government regulations covering everything from shipping to the environment lowered output per man-hour in private industry by 1.8% between 1967 and 1975. One COWPS member estimates that regulation adds from .5% to 1% to inflation, and that new regulations this year will raise business costs by $5 billion...
...sicker when they come in now." The strike also caused pensions, ranging from $225 to $250 a month, to be suspended for most of the hollow's retired miners. The pensions are financed by company-paid royalties of 55.4? for every ton of coal produced and 70 per man-hour worked when the mines are open...