Word: wage
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Dates: during 1960-1969
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...Willard Wirtz received his A.B. from Beloit College in 1933 and his Harvard Law degree in 1937. During World War II, he served on the War Labor Board, and was chairman of the Wage Stabilization Board in 1946. In 1961, President Kennedy appointed him Undersecretary of Labor and in 1962, when Secretary Arthur Goldberg resigned, Kennedy promoted Wirtz to the Cabinet...
...French workers. Only a vocal few, in protest against their long history of being flattened to a single dimension by their unions as well as management and the government, demanded "direct democracy" and "participation" in factory affairs. They were sufficient in number to shout down Pompidou's wage increases. But they were not numerous enough to prevent the great bulk of French workers from wanting to go back to their workbenches, once it was clear that De Gaulle intended to stand firm. In that sense, the fundamental revolution of workers who are demanding genuine opportunity in French society still...
Loss of Confidence. Adding to the rising unease is a slack in the four-year economic boom that, beginning in 1962, thrust Spain into the 20th century world of rapidly rising industrial wages new cars and washing machines, The lull has created unemployment and put a brake on wage increases. Above , it has cost the government the confidence of many businessmen who had always staunchly supported Franco. The government gives the impression of not knowing quite what to do about either the economy or the popular unrest, and this impression is strengthened by the fact that Franco seems to spend...
Still more cause for concern is the likely inflationary impact of any settlement. The package negotiated by Premier Georges Pompidou-and rejected by most of the nation's striking workers -included an increase in the minimum wage from 440 to 600 an hour, a 10% general pay increase for all workers in private industry, a 40-hour week (v. an average 46.3 hours now), and improved social security medical benefits. That settlement would cost at least a total of $3 billion, but the strikers wanted more...
...keep profits from vanishing altogether, any wage hike of the magnitude demanded by France's workers must be followed by a round of price increases. Higher price tags on French goods, together with a big increase in consumer income, would swell imports and cut exports at a time when the country has already run into balance of payments difficulties. The French payments surplus, which amounted to $286 million in 1966, dwindled to nothing last year; even before the crisis, France was expecting to run a slight deficit this year...