Word: productivity
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Dates: during 1930-1939
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...public's chief criticism of life insurance today, if not the only one, aimed at our methods of distributing our product...
President Marcellus Lindsey Joslyn tried to explain this away as a product of the company's pension system started in 1919. If his pension system did not deserve all the credit, yet it still remains after 18 years quite as notable as this year's increase in profits. The company neither advertises nor seeks publicity, so the Joslyn plan never made much stir until last winter when the company prepared to sell $1,350,000 worth of common stock. Financial writers then discovered Marcellus Joslyn's old labor policy, adopted during the post-War period of strikes...
...working down to delicately controlled processes in vessels hardly larger than thimbles. When the concentration of radium is as high as 1%, trained chemists take over the job, wearing protective gloves and clothing and working intermittently to avoid injury from the potent gamma, beta and alpha rays. The final product is not pure radium but 90 to 94% pure radium bromide...
...recognized that sound and desirable progress, reflecting a higher standard of living, never can be made possible by the policy of arbitrarily increasing wages, shortening hours and reducing efficiency, without regard to the effect on real prices. Higher real wages and shorter hours-highly desirable objectives-are a by-product of technological advance. It is an evolutionary and cannot be a revolutionary process...
When the old Prima salesmen met resistance to Mr. Skinner's watered product, the handsome, enthusiastic adman fired them, being under the impression that "anyone could sell beer if he just forced the issue hard enough." But even his new hirelings could not move the beer which by now was not only watered but stale. This, said Judge Barnes, "merely served to bring about further experimentation by Mr. Skinner...