Word: wages
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Dates: during 1970-1979
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...polls to elect their second Folketing (Parliament) in 13 months to decide how much welfare and inflation they will tolerate. The right-of-center minority government of Premier Poul Hartling, 60, called for elections last month after failing to muster a majority for a one-year freeze on wages, prices and profits. Although the bland, schoolmasterly Hartling has by no means attracted a large popular following, his Liberal Party (according to the latest polls) may win as much as 30% of the vote-compared with 12.3% in December 1973. If these projections are correct, the Liberals will topple the Social...
However exaggerated the fears, Danes unquestionably face hard days ahead. Even if a wage and price freeze is enacted, it is not-as many nations have learned-a solution to basic economic ills. The government will also have to press ahead in retrenching the welfare state. However, the powerful labor unions (1.2 million members) are expected to continue to be adamantly opposed to both a wage freeze and welfare cutbacks: they could make their opposition forcibly felt by calling for mass strikes. This would further cripple the economy and polarize the country's political atmosphere. The result for Denmark...
Maybe the Council on Wage and Price Stability is not the 90-lb. weakling in the Administration's anti-inflation lineup after all. Established 4½ months ago with a mission to "monitor" prices but no authority to order rollbacks, the council seemed pusillanimous in its first effort of consequence: an unsuccessful attempt to jawbone big price reductions from sugar refiners early in December. But last week the council made a modest comeback. It got U.S. Steel to trim its recent price increases and pledge publicly to do its best to impose no new ones for at least...
...some basic steel products. Much as he did when General Motors sprang some hefty car price increases on his brand-new Administration last August, President Ford issued a statement that he was "very disappointed" at the news and doubtful that the price hikes were justified. As it happened, the Wage and Price Council had already taken it upon itself to fire off a telegram to U.S. Steel's New York headquarters asking the company to explain the increases. Three days later, a covey of U.S. Steel executives led by Board Chairman Edgar B. Speer arrived in Washington. Although...
...Leningrad, women were snapping up pantyhose imported from East Germany at $10 a pair. Other briskly selling items: Hungarian electric shavers at $35 each and a new line of Soviet-made all-wool overcoats at $250 each -about $50 more than the average Soviet industrial worker's monthly wage...