Word: wage
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Dates: during 1950-1959
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...rank-and-file rebel with no union post, forced the government to agree to union elections that swept Vallejo into office (TIME, Aug. 18). A second strike in February collapsed after ten hours, but most lines of the federal railway system paid off with a 16⅔% wage increase anyway. Fortnight ago Vallejo demanded the same raise plus fringe benefits for the 5,000 workers on the Mexico City-Veracruz line and the 8,000 on the Nogales-Guadalajara run. He pulled them out and ordered 60,000 other railroadmen to stage a series of one-hour sympathy shutdowns...
...United Steelworkers' demands for fat "general contract improvement" when current contracts with the steel companies run out on June 30. (Since January the Steelworkers have been running weekly newspaper advertisements touting the national economic benefits that would flow from an "Extra Billion Dollars" in Steelworkers' hands.) Big wage or fringe-benefit boosts in steel, with or without a strike, might well touch off a new wage-price spiral. Against that threat President Eisenhower gave stern warning at his news conference last week. "Here is a place where labor and management must show statesmanship," said the President, making...
...mines in the Tyrol, exporting textiles, metal and salt to lands beyond the seas, bringing back rare spices, furs and fruit. Almost one-third of Augsburg's 34,000 people were employed by the Fuggers, and kings and emperors knocked on Jakob's door for funds to wage a war or buy support in an election...
...roughest jolt was Slichter's suggestion that the U.S. gradually abolish all tariffs and import quotas over the next ten years. Getting rid of protective tariffs, he said, would expose U.S. businesses to brisker competition, force them to become more efficient, more imaginative, more resistant to excessive wage demands. "No single step that the Government could take," said he, "would make such an important contribution toward strengthening the American economy...
...phrase now used in every economic argument is "administered prices." It crops up in union charges that business fails to cut prices in response to slackened demand, instead reduces volume and employment. It turns up in management charges that unions have set wages so high that wages, in effect, administer prices, keeping them high. Like an insistent musical theme, the phrase recurs in high-level talk that the Government may have to restore wage and price controls to keep down inflation. Where did the phrase originate? What does it mean...