Word: prices
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Dates: during 1960-1969
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Hollister has lately conceded that inflation may help the white more than the black poor because it is harder for the latter to obtain jobs even in times of labor scarcity. He calculates that 61% annual rate of price increases, which the U.S. exceeded in some months of 1969, hurts poor whites as well...
Ghetto Gougers. Many of the poor contend that gouging ghetto merchants have posted bigger price increases than the storekeepers who serve the middle class. "We have our own kind of inflation here," says Mrs. Vivian Taylor, a community worker in East Harlem. "On [welfare] check day, the first and 16th of each month, food prices are up. If 5 Ibs. of sugar was 59? the day before, it's sure to be 79? on check day." Samuel Meyer, 86, a wheelchair-bound resident of Manhattan's Lower East Side slums, finds food prices up so sharply that...
Despite gaps in their statistics, Hollister and Palmer have swept away some economic cobwebs. Their findings add to the growing body of evidence that the nation's biggest economic dilemma is how to mesh full employment with price stability. The U.S. needs to find a more effective way of aiding its poor than simple economic expansion. The poor's gains may be only temporary, and inflation reduces the living standards of the seven-eighths of the population that do not live in poverty...
Second Try. As the Johnson Administration vainly proposed last year, Nixon asked Congress to end one venerable U.S. barrier to trade that is regularly cited by foreign governments as justification for their own barriers. That is the "American selling price," which allows duties on benzenoid chemicals used in dyes and vitamins to be set not on the price of the import but on the cost of making the same chemical...
...Administration is also asking for a "clear statement of congressional intent" on eliminating domestic protectionist devices, notably the 1933 "Buy American" legislation, which prevents the Federal Government from purchasing foreign goods unless the price is more than 6% below that of comparable U.S. products. Repealing the law would help the Administration to press foreign countries to end equally ingenious barriers to trade, including European border taxes, health regulations and artificial technical restrictions...