Word: pricing
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Dates: during 1960-1969
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...what is negotiable, and talking in specific terms about the kind of points that can and should be resolved, might even help bring about discussions and cause both sides, the South Vietnamese government and the V.C., to see that some gains can be made as against the terrible price being paid by endlessly continuing a conflict that cannot bring total military or political victory to either side. CHARLES H. PERCY United States Senate Tel Aviv
Some 20,000 "phantom soldiers" are still in the ranks-soldiers who have defected to civilian life but still remain on the active rolls in exchange for letting their officers pocket their pay. Graft runs right up the command line in many units. The going price for a province chief's chair can be $25,000, an investment quickly earned back via shakedowns of the local population and kickbacks on licenses and shipments of goods...
Biggest reason for the increased prices was high wage settlements, which added an average 5% to business costs in 1967, while productivity (output per man-hour) gained only 3%. The disparity disturbs businessmen because it portends lower profits, or higher prices, or both. The 5% pattern had been established by the 1966 airline machinists' strike, which buried the Administration's once cherished 3.2% wage-price "guideposts." This fall, 5% became more of a floor than a ceiling. Auto workers won 7% increases from Ford, Chrysler and General Motors; Congress gave 705,000 postal workers a 6% raise (along...
...closer together. Half a dozen countries-Britain, Canada, France, Belgium, The Netherlands and Austria-developed an economic malaise akin to that of the U.S.: industrial stagnation and rising unemployment coupled with inflationary tendencies. Reason: wages and government spending rose despite economic slowdowns. Germany stopped its spiral of wages and prices, but at the cost of a severe recession that pulled down the pace of business throughout most of the Common Market. Only Italy, which underwent a deflationary purge three years ago, showed strong economic gains without much wage and price strain...
Despite such concerns, most private economists expect next year to be a good one-better than 1967. They see the U.S. economy expanding by a healthy 4% in real terms, with the 3% or 31% price inflation and with unemployment hovering about where it already stands. Bankers feel that the Federal Reserve will apply a brake to credit expansion, but gently enough to allow housing to continue its gains. Many businessmen look for consumers to save less and spend more; Detroit, for example, expects at least 9,000,000 auto sales. There are, of course, some clouds over that rather...