Word: standardized
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Dates: during 1950-1959
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...turned to bigger and better machines to keep costs down and production up. Moreover, automation is most profitable in a time of full production: so much money is invested in the automated tool that a plant manager must keep it at work. In Jenkintown. Pa., for example, the Standard Pressed Steel Co. installed a $140,000 automated furnace in its bolt factory. The furnace could be operated by one man instead of five; it boosted bolt production 133% to 2,100 Ibs. hourly. But unless it kept running continuously, it was not profitable...
...rise 50% to $8,000 in ten years. Though automation will displace some workers, in the long run the U.S. economic problem will not be unemployment but how to stretch the U.S. labor force enough to keep up with a population growth of 3% yearly and a standard of living that grows much faster. With every new production climb will come new demands for shorter hours, more leisure time. Once automation hits its full stride, the 30-hour week and the three-day weekend will not be far behind...
Louis W. Cabot '43, Vice President and Treasurer, Godfrey L. Cabot, Inc.; Vernon O'Rourke, Overseas Employee Relations Advisor, Standard Oil Co. (N.J.); and H. Harold Whitman, Vice President, The First National City Bank of New York, will speak on "Opportunities Abroad" in the Adams House Dining Hall at 8 p.m. tonight...
...family income. Nevertheless it seems that somewhat more ability, ambition, and responsibility are required to get through Harvard if one is insolvent than if one is the son of an oil baron. Although the rules are not strict, and the scholarship scions consider each case individually, the minimum standard of performance for a scholarship holder is normally Group IV, while the minimum for a non-scholarship student is Group...
Obviously the ideal solution would be enough scholarship funds to pay the full expenses of everybody who is admissible to the college and cannot pay his own bills. But lacking these resources, the University still needs to do some rethinking of outdated principles, and abolish the double standard of performance for solvent and insolvent students...