Word: profiteer
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Dates: during 1930-1939
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...years of debate," cried Defense Minister Edouard Daladier. "It is the unanimous wish that if war breaks out again it should not be, as in the past, a source of huge profits for some while others are making sacrifices of their lives. We hope that our example will be followed by other nations and thus lead to the reduction of armaments. . . . War must not be a source of scandalous profit. We want peace, but the peace we desire is the peace of free men and not of slaves...
...under the U. S. flag for 20 years, pay its executives no more than $25,000 a year. These conditions satisfied, the Authority will submit for bids the company's plans for new ships to U. S. shipyards, which in turn must agree to return to the Government profit in excess of 10%, for the job. The Authority will accept the lowest bid, but will contract to sell the finished product to the operator at a figure equal to the cost of building the ship in a foreign yard. This figure is almost certain to be lower than...
Armament limitations forced young Germans to develop motorless flying after the War. Product of one ill wind, gliding failed to profit from another. Depression curtailed plane companies' interest in the sport. U. S. manufacture of gliders soon ceased. Some enthusiasts bought their planes from Germany, others built them at home. Groups pooled their resources, formed more clubs, mainly because there were not enough ships to go around. Not 1,000,000 pilots but a bare 70, cream of the total U. S. crop of some 2,500, were at Elmira, N. Y. last week for the seventh annual meet...
Headquarters were at the second best hotel, for almost by definition cooperators are not affluent. Since Co-operation is a Cause as well as a system of economics, the delegates did not go in for the usual convention revelry of profit-making businessmen. They swam with their ladies in Lake Minnewaska. They celebrated at Glenwood Park. They inspected the only co-operative in Glenwood, a filling station. They stayed away from the slot-machines in the hotel bar, one cooperator crisply observing: "Slot-machines are distinctly not co-operative." They were there to talk the theory & practice of cooperation...
Aside from taking profit out of price, the strongest co-op appeal is quality. The quality may be low, though it is usually high, but the buyer knows precisely what he is getting. In most standard lines the product is manufactured to specifications laid down by the cooperators. This is one reason why co-operative buying has be come rooted so firmly among U. S. farm ers, who well know that fancy brand names do not alter the tested formulas for fertilizer or laying mash. One-eighth of all U. S. farm supplies are now sold through coops, the volume...