Word: wage
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Dates: during 1960-1969
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...months ago, in return for help from U.S. and international banks, the government finally agreed to try a little austerity-namely, to hold down wages and straighten out its finances. That only brought new clamors for wage increases, the most spectacular of which was a demand for a 48% boost by bank employees. When the government said no, the leftist National Confederation of Workers-500,000 in all-joined in a crippling general strike that forced the country's ruling nine-man National Council to declare a state of siege, which was not lifted until early this month...
...Council's attempt to hold the wage line is only the first tentative step to recovery. Uruguayan economists, with Alianza help, have put together a ten-year development plan which runs to 3,600 pages, calls for a sweeping reorganization of the country's social security system, sharp restrictions on imports, and increased agricultural production for export. Given the temper of Uruguay's 1,000,000-man work force, any steps at all may well prove impossible. Last week 130,000 government workers rejected a relatively reasonable 15% raise, walked off their jobs demanding...
...aluminum industry is only a sacrificial symbol of Lyndon Johnson's wider war on inflation, which he feels he must wage to keep the economy healthy and to restore the balance of payments. The aluminum industry-one twenty-third the size of construction and one-tenth the size of automaking-is unlikely to cause an inflationary spiral by itself. Even some Government economists concede that the industry has as good a case as any for higher prices: it is earning a mere 4.9% on its investment, is running at 100% of its 2,700,000-ton capacity. Its price...
...veiled warning, brought the Administration into the open. At a press conference in Wash ington, called at Johnson's specific command, Economic Adviser Gardner Ackley, Defense's McNamara and Treasury's Fowler declared that the alumi num price rises "have no justification under the wage-price guideposts and therefore are inflationary." Though he denied that the decision had anything to do with aluminum price rises, McNamara announced that the Government will sell 200,000 tons of surplus alumi- num at market prices in 1966, allowed that the sale is "bound to relieve some of the pressure...
...narrow staircase to the second floor. There he pauses again before the well-advertised insignia on another door, squares his shoulders and steps into a brightly lit room filled with the murmur of Muzak melo dies. The man is 37, married, and a fa ther. He is a steady wage earner with a $6,092-a-year income. He is also in debt (to the tune of $513) and pressed by his creditors. He is a typical customer who has come to solve his problems -at least for the moment - by borrowing from the Household Finance Corp., the oldest...