Word: wages
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Dates: during 1970-1979
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Real Hunger. The junta has had its problems in correcting those troubles. The Allende government, by exhausting reserves of foreign exchange, boosting wages and subsidizing food prices to an unreasonable degree, bequeathed an inflation that totaled 842%. The junta's team of fiscal technocrats, many of them disciples of University of Chicago Economist Milton Friedman, have applied a tough austerity program that has let prices rise while holding down wages to keep demand in check. So far, Chile's inflation has come down to a projected 250%-300% for 1974. Still, the average laborer needs to work four...
...already weakened party leadership by differing with him on key is sues. Sir Keith Joseph, the shadow Home Secretary, led off by asserting that the answer to Britain's raging inflation lies primarily in manipulating the nation's money supply, not in imposing the kind of wage-price controls that led Heath into a losing confrontation with coal miners last winter. Labor spokes men gleefully seized on Sir Keith's plan as proof that the Tories would be willing to tolerate mass unemployment-the certain risk of a prolonged money squeeze-as an anti-inflation tool...
...atmosphere was a bit more cheery at a Washington meeting of 29 labor leaders presided over by President Ford. The unionists applauded a chart presentation by Greenspan showing that wages have lagged behind prices and thus are not the primary cause of inflation. But the labor leaders voiced suspicion that Ford may yet resort to wage-price controls, despite his public disclaimers, and they sharply criticized the Federal Reserve's money policy. The bitterest attack was delivered in a separate forum by AFL-CIO President George Meany. In a speech in Kansas City, Mo., he declared that any Soviet...
Labor officials met with Harvard administrators last month in one of the first steps in an investigation that could end in a suit against the University in U.S. District Court. But John B. Butler, director of personnel and the overall supervisor of salary and wage levels, has said there is "no situation that I am aware of where the facts support what has been alleged" in the complaint. Butler and Daniel Steiner '54, general counsel to the University, discussed the complaint with White this summer in an effort to avoid going to court...
...University will probably offer an increase in wages to the two unions, but will still offer lower wages than union members elsewhere in the Boston area are accustomed to getting; that is standard procedure for Harvard. The question is whether the University's concessions over the summer to the striking University Printing Office printers will encourage unions to be bolder in their wage negotiations with Harvard...