Word: wage
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Dates: during 1950-1959
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...Froze automobile prices as of Dec. 1, canceling price boosts just announced by Ford, General Motors, Chrysler and Nash (see BUSINESS). The President's Economic Stabilization Agency therewith took the first big step toward selective wage and price controls. Others expected: steel, aluminum and copper. ESA begged the rest of industry and labor to adopt voluntary controls. Such pleading had never worked before, and would not this time, but ESA was simply not prepared to police a nationwide control order...
...months, the union had been pressing for 48 hours' pay for a 40-hour work week (the same increase given a million non-operating employees in 1949), while the railroads' best offer had been 44 hours' pay for 40 hours' work. Now that a wage-price freeze seemed imminent, explained union officers, the workers could wait no longer, and so they had gone out on an unauthorized strike. As usual in such cases, union leaders piously protested that they were unable to stop the strike, that their men would pay no attention to them...
After five weeks on the throne, King Gustaf VI of Sweden asked his parliament for a raise of $38,000 to bring his annual allowance up to $231,000, a middle bracket in the modern monarchical wage scale...
...basic preparedness problem is to fully prepare "at the same time maintaining economic health," and a chief danger is psychological--public reaction to a cold war, as opposed to a hot war, can "most profoundly affect hours of work, rate of productivity, extent of voluntary savings, wage demands, strikes and labor slowdowns, and general public attitude toward controls and restrictions...
...article yesterday in the New York Times, Sumner H. Slichter, Lamont University Professor, outlined four ways to curb inflation and at the same time reduce consequent inequalities. They are: 1) cost-of-living wage adjustments under social security; 2) corresponding pension adjustments under social security; 3) rent control permitting at net incomes of landlords to rise as much as the consumer's price index; and 4) opportunity for savers to buy securities that will automatically depreciate in purchasing power as prices rise