Word: wage
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Dates: during 1960-1969
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...Viet Nam, despite the now familiar demands from some left-wing M.P.s for a softer line. He also had little trouble winning support for his government's proposal to limit Commonwealth immigration. A tougher nut, however, was gaining approval of anti-inflation legislation requiring unions to submit wage demands to a government board...
Henceforth, said Kosygin, the government would sharply reduce its directives to the managers. Though the total wage fund will still be set, each factory boss may slice it up as he sees fit, handing out incentive pay and bonuses to reward efficiency. No longer will a factory's performance be measured by how much it produces but by how much it is able to sell. In a wide range of consumer industries, profit will measure a manager's effectiveness - and a portion of that profit may be kept for use in improving production through new tools...
...Free Ride." Debate about 14(b) has raged ever since it became law in 1947. Prior to that year, a wave of major strikes, called by labor to catch up with the rest of the economy after four years of wartime wage controls, had crippled such vital U.S. industries as steel, coal and autos. Over President Harry Truman's veto, a Republican Congress passed the Taft-Hartley Act, which not only permits 80-day injunctions against strikes that threaten the national welfare, but expressly declares that states can pass their own laws prohibiting "membership in a labor organization...
...change. But the U.S. has found plenty of anti-Communists to back-anti-Communists who are also reformers. It wholeheartedly supports Chile's President Eduardo Frei, who beat a Marxist to win office. It has committed $119 million to help Peru's Fernando Belaúnde Terry wage a social revolution that will aid millions of backlands Indians...
Growing Pains. Though inland shippers carried 9.8% more cargo last year than the year before, they are facing some unpleasant growing pains. Wage costs have doubled in the last 15 years while rates have actually fallen because of competition, especially from pipelines (oil accounts for 16% of Germany's total waterborne tonnage). Traffic is so heavy that barges frequently stack up in jams several miles long behind such bottlenecks as the locks on the Wesel-Datteln Canal, thus delaying the delivery of goods...