Word: wage
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Dates: during 1950-1959
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Personal income in August was also nipped by the strike, and fell to a seasonally adjusted annual rate of $381.4 billion, $2.6 billion below the July level of the nation's wage and salary payments. In five manufacturing industries closely allied to steel-primary metals, mining, transportation, fabricated metals and machinery-the August annual rate of personal income was down $3 billion from the July annual rate and $4.5 billion below the June rate. Since the steel strike started last July 15, an estimated 500,000 steelworkers and 155,000 workers laid off in allied industries have lost something...
...letter seemed to accomplish little. The industry's reply to Ike reiterated its position that a wage increase would be inflationary. Steelworkers President David J. McDonald renewed his bid for face-to-face meetings with the chief executives of the twelve companies. In deference to the President's request for uninterrupted bargaining, the union and management negotiating teams held their first weekend session, though neither side showed any sign of budging from its position...
...surprisingly, current "liberal" proposals receive similar impressive backing: four-fifths approve of Federal aid to public secondary schools; two-thirds, of American economic and non-military technical aid to other countries at its present level, of national health insurance, of Federal aid to private colleges and universities, of government wage and price controls to check inflation; and half, of Federal financial assistance to American cultural activities...
Fully a fifth of the undergraduates, however, support such "conservative" stands as reducing the current inflation, even at the price of unrelieved unemployment, and barring government wage and price controls except in time of national emergency...
...favorable light, and tends to downgrade what Galbraith calls the "conventional wisdom." It is not surprising that a third of Harvard's students declare themselves in favor of "reduction of current unemployment by government action, even at the price of aggravating inflation," or that two-thirds support "government wage and price controls to check the inflation"--the second policy presumably helping to balance the first...