Word: outruns
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Dates: during 1950-1959
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...recession is largely the result of overdoing credit restraint, and is causing us to consume valuable inventories of goods and to reduce the rate at which we construct much-needed plant and equipment. In other words, the recession is making it easier in the long run for demand to outrun the supply of goods. Hence, the present recession tends to increase the likelihood of a rise in the price level...
...Atlantic City, Gray's basic idea-that it is to labor's interest to show moderation in wage demands-made considerable economic sense. The nation's laws give Big Labor what amounts to a monopoly power. Using that power, labor can force wage increases that outrun increases in productivity (real output per man-hour). And wage increases that outpace productivity tend to push prices up, whether the economy is inflating or deflating...
...least as important as federal credit curbs in holding down demand for housing is the fact that the wages of bricklayers, carpenters, et al. ($2-$5 an hour) have far outrun their productivity, pushing the prices of houses far out of line. To keep housing prices from getting further out of line is clearly to the interest of the building trades. That is what Richard Gray was trying to say, and it was precisely what needed saying...
...ROUND the world, the chances for investment abound (see Capital Opportunities). But too often there is no capital to invest. As President Marcus Wallenberg of Stockholm's Enskilda Bank pointed out to the conference delegates, the demands for investment funds have far outrun the savings from which the capital must come...
...follow credit policies that promote stability. But government measures alone cannot win the fight unless nations avoid "the costly error of overpaying ourselves for the work we do." Payments for "productive efforts of all sorts," i.e., profits as well as wages, should rise in step with productivity, not outrun it. Here Ike echoed a theme he had voiced in his State of the Union address last January: labor and business, as well as government, should restrain their demands...