Word: wages
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Dates: during 1970-1979
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Ford paid relatively less attention to his Council on Wage and Price Stability, which will monitor increases in those crucial areas. The council has no enforcement powers, but Ford did appoint as executive director a strong advocate of Washington jawboning. He is Albert E. Rees, a Princeton economist and a Democrat. Rees shares Ford's adamant stand against imposing mandatory wage and price controls...
...economists, however, found things to disagree about-and the political and social figures who outnumbered them at the summit found many more. In particular, Ford knows more than ever that he did not dispose of the issue of economic controls by announcing at his first press conference that "wage and price controls are out, period." His critics, particularly Senate Majority Leader Mike Mansfield, zeroed in on some form of active Government intervention in wage-price decisions as the main thing missing in the President's approach to economics...
...example, labor leaders meeting in Washington railed against the way inflation is chewing into paychecks, and told the Government to keep out of wage settlements and devote it self to getting the economy moving again. Energy executives meeting in Dallas called for a lifting of all price controls on oil and natural gas, while transportation chiefs who gathered at a minisummit in Los Angeles were cheered by United Air Lines President Edward Carlson's demand that controls be clapped on all U.S. crude oil. (At present, "old" oil- the amount of oil a company produces equal...
Wilson's cause was boosted last month when Britain's Trades Union Congress (T.U.C.), an umbrella organization representing 10 million workers in more than 130 unions, voted almost unanimously to support the much touted "social contract." Under this informal agreement, the unions promised to exercise voluntary wage restraint in exchange for the Labor Party's promise of economic and social reforms. Since wage increases are expected to be a chief source of British inflation during the coming year, success of the social contract is Labor's crucial selling point to financially panicked voters...
...only area university which now has a union of clerical workers is the University of Massachusetts, where salary-and-wage employees have formed a local of the American Federation of State, County and Municipal Employees. Although no private universities have clerical unions yet, at least three insituations--MIT, Harvard, and the Harvard Medical School--have union organizing committees, and "a couple of others are right on the brink," Nussbaum said...