Word: wage
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Dates: during 1950-1959
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...label for Hoover's doctrine of Gibraltar-ism (TIME, Jan. 1). "It seems to me that our battle against Communism is in fact a worldwide battle and must be fought on the world stage . . . [but] our first consideration must be defense of America." Here is how he would wage the battle...
...deems expedient." Though no one knew just what that meant, DiSalle assumed it gave him the power he needed. He decided to replace the "voluntary" price standards imposed three weeks ago (TIME, Jan. 1) with a mandatory freeze of all prices. Under the law, that would result in a wage freeze...
...Times Two. In Syracuse, N.Y., the city council pondered a department head's memorandum on the city administration's budgetary problems: "The decrease in departments showing a decrease is increased by the amount of wage increases and the increase in departments showing an increase is reduced by the amount of wage increases...
...instead of waiting to see if credit controls would do the trick, Economic Stabilizer Valentine blundered into an attempt to freeze all wages and prices by a complicated system of "voluntary" direct controls which no one, including Valentine, seemed to understand. By arbitrarily ruling out price rises for any businessman whose profits were as great as his average in 1946-49, Stabilizer Valentine took the position that profits alone should bear the burden of wage and material increases. All such a program did was squeeze the efficient producer, grant price rises to the inefficient, and harm the entire economy...
Edward E. Reynolds, vice president of the university, says Harvard may not be able to afford maid service for dormitorles next year if wage scales continue to go up. This would compel students to make their own beds. If the inflationary spiral isn't checked, it's logical to expect that the university will project this policy into other fields. Once a Harvard man has been taught to make his own bed it's a short step to teach him to vacuum the rugs and sweep the corriders. The result inevitably will be a rush of girls to marry Harvard...