Word: wage
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
...date on which a common agricultural policy comes into force, creating a genuine-and irreversible-economic union of the Six. Now the Common Market has begun to harmonize production as well as trade; it is working out a common business-tax system and single laws covering monopolies, capital movements, wage scales, social benefits, and even food and drugs...
Among economists and businessmen alike, today's foremost worry is how to keep wage escalation from becoming inflationary as the economy regains its momentum. "The major question is not whether we avoid a downturn, but what kind of advance we are likely to have," says Raymond Saulnier, who was chairman of President Eisenhower's Council of Economic Advisers and is now a Columbia University economics professor. Because the upturn will begin with low (currently 3.6%) unemployment, "it is virtually bound to be inflationary," insists Arthur Burns, another Eisenhower CEA chairman, now chairman of the National Bureau of Economic...
Back to Guideposts. To forestall that peril, incumbent CEA Chairman Gardner Ackley last week called for a "revival and strengthening" of the Administration's moribund wage-price guideposts. "The breathing space in price pressures will not last," he warned. "An upward trend in costs has been masked by declining prices for food and raw materials. And last year's price increases have still not worked their way fully through our cost-and-price structure...
Having abandoned last year's 3.2% guidepost in January, Ackley did not suggest what limit on wage or price increases would be fitting now. But he conceded that "most wage settlements" in 1967 will exceed gains in productivity. Without more voluntary restraint, he argued, the U.S. will stabilize prices only by the "disaster" of continuous peacetime price and wage controls or "higher unemployment-some say 5%-than the American people will or should tolerate...
...Investors. The basic idea is to lure both foreign and domestic capital investment. To outsiders, Taiwan's biggest advantage is inexpensive labor. Minimum-wage laws require only $11 a month for unskilled labor, while skilled workers get up to $70 or $80. The rates are only one-third as high as wage levels in Japan and half those in Hong Kong. As a result, several Asian companies have moved operations from those areas to Taiwan. U.S. firms have invested $110 million in Taiwan enterprises. Union Carbide is building an $8,300,000 plastics plant in the Kaohsiung petrochemical complex...