Word: upcreeping
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Dates: during 1960-1969
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Other steel chiefs echoed Blough's theme. Chairman Arthur B. Homer of Bethlehem Steel, the second biggest producer, wrote the President that steelmen cannot avoid a price upcreep if "other forces contributing to inflation"-meaning the rising price of labor-"are allowed to go unchecked." President Thomas F. Patton of third-ranking Republic Steel wrote: "Your advisers seek to justify the freezing of current steel prices, regardless of inequities to our company. We are asked, in effect, to substitute their personal judgment for the known efficiency and fairness of the competitive marketplaces. This we cannot do." Said Chairman Avery...
...decade ago economists identifiable as liberals were automatically prolabor, rejected the idea that wage increases could be economically harmful. Today Heller, like most other economists, holds that "excessively generous wage bargains'' between unions and management can lead to "cost-push" price upcreep...
...added funds its programs ask for. The House's wariness reflects a widespread public wariness toward the new economic goals. Aside from the unemployed, the public generally seems pretty satisfied with the economy's performance during the Eisenhower years-or at least seems more concerned about price upcreep than about growth rate. Dwight Eisenhower's sermons on economics got across to the American public-as Walter Heller knows. "There has been a metamorphosis in the Congress and the people," says he with a touch of bitterness in his voice. "The strain of fiscal conservatism has become strong...
...mankind." upcreep to the point where "the value of the dollar virtually stabilized." Economic growth was fostered by a "continuing effort to reduce artificial restraints on competition" and by "major improvements" in the nation's transportation system. "After long years of debate, the dream of a great St. Lawrence Seaway, opening...
...Treasury, Administration economists last week were quietly celebrating a victory that seemed too good to be true: by all accepted standards, the longstanding threat of inflation appeared to be whipped. Success in a series of key battles, the economists agreed, is winning the war against price upcreep. Ahead for the U.S.. said these prophets with only a pinch of caution, is a new era of steady growth and price stability...