Word: wage
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Dates: during 1950-1959
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...from no Sunday pulpiteer, but from the assistant to the president of the Standard Oil Co. of Ohio. Oliver Arthur Ohmann, 55, writing in the current Harvard Business Review. Says Oilman Ohmann. who used to head the Department of Psychology at Western Reserve University's Cleveland College: U.S. wage earners are uneasy, and the problem is not one of wages and hours, "as organized labor would have us believe. Raising the price of prostitution does not make it the equivalent of love. Is our industrial discontent not in fact the expression of a hunger for a work life that...
Even in the most comfortable middle-class families, housing can become a psychological problem for youth. A 25-year-old fashion designer earns $230 a month, a whopping salary for her age. But she must live with her parents. It would cost half her wage to find a furnished flat with the comfort she now has; it would take $3,000 "key money" to get an unfurnished apartment. "It could be worse," she says philosophically, "but it's bad enough. I can't give a party. I can't invite someone in for a drink...
...galloping inflation that has sent living costs soaring since war's end finally seems hobbled. Prices have held steady despite a wage hike of nearly 6% in the past year. The long-queasy franc has strengthened, and the black-market rate of 368 to the dollar is closer to the official rate of 350 than it has been for years...
...rebuilt only 500,000 homes v. Britain's 2,000,000. Despite record sales abroad, the foreign-trade deficit was $49,500,000 in March-partly because France stubbornly concentrates on exporting such low-profit items as textiles and semifinished steels. Industry, hit by high wage costs and elaborate fringe benefits imposed by strong unions and by government fiat (to avoid strikes), has tried to recoup by price-fixing and cartel schemes rather than modernization and better production methods. Nevertheless, U.S. Ambassador Douglas Dillon (onetime board chairman of the Manhattan investment firm of Dillon, Read & Co.) last week surveyed...
...MINIMUM WAGE will probably be boosted from 75? to $1 this summer (v. 90? proposed by Ike), but coverage will be extended to few, if any, additional occupations. For 1956 campaign oratory, big-city Democrats will pay lip service to the $1.25 that labor is demanding, but Congress' realists expect that $1 will turn out to be the top point of compromise...