Word: wage
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Dates: during 1950-1959
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...last week when delegates at the Amalgamated Lithographers of America convention in Chicago adopted a proposal to put $1 million in A.L.A. money into a fund to promote technological advances in lithography, provided that employers put up a matching sum. The fund will bring "better working conditions and real wage increases," argued Edward Swayduck, the man behind the plan...
...keep up its fight against, inflation. In a speech to the bankers, U.S. Steel Corp.'s Board Chairman Roger M. Blough urged a two-point anti-inflation program to supplement Government policies: 1) efforts by management and labor to increase productivity, and 2) restraint by both to keep wage rises from outpacing productivity. In effect, Blough was restating Dwight Eisenhower's theme: in a free economy, the Government cannot defeat inflation without help from business and labor. And help is urgently needed...
Prominent among the limited inflationists is Harvard's Professor Sumner H. Slichter. The U.S. has had a rising price and wage level almost from its infancy, he argues, simply because an expanding economy steadily bid up the prices of labor and materials. Both sides agree that in a perfectly run economic world it might be possible to avoid inflation if wage rates, labor productivity and profits all rose together in direct proportion to output. But even the classic economists foresee no such perfect world. Thus, if the U.S. is to continue to expand, the prices of labor and materials...
...Review he called Slichter the exponent of a "defeatist school," which is coldly callous to the fact that creeping inflation has "pauperized countless retired and disabled American citizens" living on fixed incomes. Jacoby urges the Government to make its goal an "absolutely stable price level." This means stopping the wage-price spiral by tightening credit and reducing federal spending, leading to less buying, bigger inventories, production cuts, lower profits, and layoffs. He argued, in effect, for a small recession...
...government feels have a large enough stake in the military to make it a career. The Plan would also bring the salaries of civilian technical employees of the military closer to the standards of private industry, and give recruits, especially those with families, something closer to a living wage...