Word: paye
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Dates: during 1960-1969
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Rising Deficits. Textile imports from countries that use American management methods and technology-but pay lower wages-are swamping the U.S. market. In 1961, the U.S. enjoyed a trade surplus of $53.7 million in cotton, wool and synthetic fibers. Since then, deficits have increased steadily. Last year the imbalance climbed 60%, to $807 million. Today 47% of all women's synthetic-fiber sweaters and 46% of all wool sweaters sold in the U.S. are manufactured abroad. One of every three men's all-wool suits is made from Japanese worsteds, and a quarter of men's shirts...
Forced industrialization has left scars on the country's economy. Housing shortages persist because industrial construction has priority. Though the average Rumanian's material lot is somewhat better than it was five years ago, his monthly pay is still only about $67 and the goods he can buy are generally shoddy because better-quality products of farm and factory are sold abroad. Meat is a once-a-week delicacy and Bucharest butcher shops offer mostly sausage. Lately, Rumanian planners have begun to worry that factories may be pulling so many workers off the under-mechanized collective farms that...
...that American coal is cheaper than the domestic product in most of Europe -even in Newcastle. Yet cooperation can go too far. In 1968, the union was found to be conspiring with the Consolidation Coal Co. to create a monopoly in the soft-coal industry and was ordered to pay half of the $7,300,000 damages awarded by a federal District Court. The case is on appeal...
...Close Ties. Miners are legitimately resentful of the union's niggardly pension system, which gives them only $115 a month after 20 hazardous years underground. Lewis has retired - and Boyle will retire - at full pay: $50,000 a year. Though miners are the nation's greatest sufferers from occupational ailments - notably "black lung" or pneumoconiosis - they get medical benefits only so long as they remain on the job. They argue, moreover, that the pension fund, fed by a royalty of 400 per ton of coal mined, ties the union too closely to the fortunes of the coal companies...
...Marathon is probably your best entertainment value in the area. Assuming you are registered with the AAU, which requests $1 for the honor of membership, you pay only $2 to enter the Marathon and here is what you receive: bus ride to Hopkinton, numbers and pins, dressing facilities at Hopkinton Junior High School, 26 miles of open concrete, dressing facilities in the Prudential, and best of all, tasty beef stew in the Pru afterwards. And of course, while you're receiving all these benefits, you enjoy a healthy run as well...