Word: wage
(lookup in dictionary)
(lookup stats)
Dates: during 1950-1959
Sort By: most recent first
(reverse)
...just turned the recession around, now stands tottering on the brink of something disastrous called "inflation." But does it? The U.S. could indeed have serious inflation if fiscal irresponsibility at Government levels piled up national debts heavier than the economy can absorb. It might also have inflation if the wage spiral got out of hand, or if capacity to produce fell so far short of demand that prices suddenly shot up by 10% or 20%. It will not have "inflation" by any sensible definition of the word so long as the U.S. can manage its debts and prices rise...
Though the federal deficit will continue to be large, possibly running to $10-$12 billion next year, it will still represent less than 3% of the gross national product, hardly a harbinger of runaway inflation. The bothersome rise in the wage-price spiral will be slowed by several deflationary factors: widespread overcapacity in basic industries, a squeeze on profit margins, no recurrence of a labor shortage as working-age population rises. What the bank expects is a relatively stable growth pattern over the next five years, with prices rising a modest 1% or 2% each year. Any further acceleration...
Businessmen are well aware that long-term contracts have many advantages. Management need not fear a production-crippling strike for three, four, even five years. Long-term contracts spare labor and management alike the heavy expense of time and treasure that yearly bargaining sessions require. With a fixed wage pattern, companies can plan ahead years in advance, knowing what their labor bill will be; they are able to guarantee delivery without interruptions. Were it not for long-term contracts in the auto industry, for example, countless auto suppliers would live from hand to mouth, not knowing from...
...Workers in the two months that they have worked without contracts. Both sides are gearing for the final showdown. Last week the U.A.W. announced that it had secretly polled its membership, found more than 90% in favor of a strike-unless the companies submit to the union's wage-and-benefit demands. This week the U.A.W. executive board will meet in Detroit to set a strike deadline...
Nothing would damage chances of a fast second-half pickup more than an auto strike. But much as they wish to avoid a strike, the companies are faced with one hard economic fact: a steep wage boost would also mean a steep boost in 1959 car prices-and kill off hope of selling any more cars than...