Word: wage
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Dates: during 1950-1959
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...suprisingly, current "liberal" proposals receive similar impressive backing: four-fifths approve of Federal aid to public secondary schools; two-thirds, of American economic and non-military technical aid to other countries at its present level, of national health insurance, of Federal aid to private colleges and universities, of government wage and price controls to check inflation; and half, of Federal financial assistance to American cultural activities...
Fully a fifth of the undergraduates, however, support such "conservative" stands as reducing the current inflation, even at the price of unrelieved unemployment, and barring government wage and price controls except in time of national emergency...
...biggest say over what wages the steel industry will-or will not-pay in its new steel contract is Roger Miles Blough (rhymes with now), 55, the tough-minded chairman of U.S. Steel. Blough, who sternly calls for "renewal of the present contract with no rise in wage rates for one year," has the sinewy build (6 ft., 175 Ibs.) and face of a steel puddler. But he is not cast in the steelmaker's bluff, up-from-the-mills mold. He is an "outside man," a lawyer who got to the top by applying his logician...
BLOUGH argues that the dollars corporations earn as profits have remained virtually stable for ten years, while wages have more than doubled throughout U.S. industry. In steel alone, employment costs have jumped at the compound rate of 7.9% each year since 1940. The industry still made a profit of 6.3% on its sales last year (an even better 8.7% for U.S. Steel), but Blough argues that profits still fall far short of the cash needed for expansion. U.S. Steel alone had to borrow $600 million in the last five years. As for inflation, Blough considers congressional suggestions of wage...
Last week both sides had had enough, hammered out mutually acceptable terms: a written guarantee of pension benefits, increased job security, a 3.3% wage increase. St. Louis guild leaders, passing the terms along to international headquarters for formal endorsement, hailed them as the fruits of victory...