Word: waged
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Dates: during 1960-1969
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HUBERT HUMPHREY has just two months to overcome his image as Lyndon Johnson's servitor and re-establish his own individuality. Yet, instead of staking out a creative and specific program of his own that would help him to do so, the Vice President seems prepared to wage his campaign on another man's record: Richard Nixon...
...prolonged economic crisis seemed to face France after its spring disorders and the huge wage increases that ended the general strike. Little more than two months later, that outlook has changed remarkably. Though still far from being out of danger, France has a fighting chance not only to recover from the strike but even to benefit from...
Paradoxically, that cushion of unused plant and manpower, plus the country's still ample $4.75 billion reserves, is what now gives France its opportunity for an economic rebound without serious inflation. Despite the staggering wage gains of French labor (13% to 14% for all of 1968), the Gaullist government aims at holding price increases to 3% during the last half of this year. It is relying on what one Finance Ministry official calls "a battery of tools to regulate prices without actually enforcing price controls." Under the French contrat de programme, for example, thousands of industrial and retail firms...
...economy may well require more delicate manipulation in the months ahead. Unemployment is still rising, and some industries plan to lay off nonessential workers to help meet their added payroll costs. Thousands of small firms are expected to go out of business entirely when the full impact of the wage raises hits them in the fall. Despite exchange controls forbidding most Frenchmen from taking more than $200 a year out of the country, the flight of capital remains a drain on the franc...
...rather more turgid. For one thing, if the Administration was anxious to portray U.S. Steel as a model of industrial statesmanship, the company did not care for the role. U.S. Steel made it clear that its price increases fell far short of covering the cost of the 6% labor wage-and-benefit package negotiated last month, warned that other price changes would be coming from time to time. Aiming a lance at the White House, the company said it was "almost, but not quite universally recognized" that steel prices do not cause inflation, insisted that the cost-of-living culprit...