Word: wage
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Dates: during 1950-1959
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...step-up in the automatic annual hourly wage rate increase (now 2.5%) to a "noninflationary" 3.9% per year...
Viewing this kind of against-the-tide price inflation (TIME, Jan. 6) as a serious danger sign, the President pledged the Administration to promote price stability. But he also called upon business and labor to show restraint in using their power to force up prices and wages. Price boosts unjustified by cost increases can curb demand. Wage boosts unjustified by productivity increases can push prices upward, slow down economic recovery...
Steelman McDonald had hardly spoken before the United Auto Workers' Walter Reuther topped him. The U.A.W. decided Reuther's executive board this week, will patriotically forget all about its plan for a shorter work week in 1958 negotiations. Instead U.A.W. will couple its new demands for wage increases with a novel program of profit-sharing for wage-earners. And just in case this might not bring him a big enough audience, Reuther was ready to propose (but not "demand") that automakers also share their profits-in the form of rebates-with their customers...
...such programs as free milk for children and expectant mothers, reducing the family allowances that pay parents $1.12 a week for their second child, $1.40 for each subsequent child. To cut such payments, argued Thorneycroft's opponents, would cause deep resentment, might provoke the unions into demands for wage increases...
Imaginative Ambitions. At war's end Hopkins foresaw that the cold war was here to stay, and that the U.S. would need a new type of company to help wage it-one that turned out not just tanks, or guns, or planes, but entire weapons systems. He set out to create a General Motors of defense, visualizing it as a national service as well as a business. Using Electric Boat as his nucleus (the company had plenty of cash but few orders after 1945), he worked out a careful formula for expansion. He wanted solid, well-managed firms that...