Word: wages
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Dates: during 1970-1979
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There are touches of faded elegance still in Buenos Aires, and an occasional comic interlude: Antonio Cafiero, the strangely cheerful Minister of the Economy, is explaining to TIME how he is about to negotiate with the unions "a dynamic social compact" that should help stabilize wages and prices for some months. Unannounced, a fellow in an electric-blue gym suit bursts in from a side door and seats himself. He turns out to be the head of the C.G.T., the AFL-CIO of Argentina. A few minutes later, from a different side door, the head of the metallurgical workers union...
...building in which 150 members of the constituent assembly were laboring over a new constitution. They also backed huge trucks against the entrances to Premier Jose Pinheiro de Azevedo's official residence next door and warned that Premier and assembly would remain prisoners until they lifted a wage freeze and authorized 30% annual pay increases for the construction men, totaling $240 million. After 37 hours as a prisoner in his residence, Pinheiro de Azevedo reluctantly agreed and the siege was ended...
With thousands of construction men already out of work, the government estimates that the new wage increases will wipe out many of the remaining private building firms...
...young men and women that it can so shabbily treat a man who has given it a major portion of his life? Is this the retribution our sons and daughters must now envision for long years of service: forced retirement, annuity reduced by 50%, discrimination because of age and wage...
...billion recovery program, and there is a good chance that the Italian economy will begin to climb slowly in mid-1976. The pace of any economic risorgimento will depend on two things: whether the often inefficient bureaucracy can get the expansionary program moving quickly enough, and the level of wage increases that will emerge from the current round of national labor-union contract negotiations for 4.5 million workers...