Word: wages
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Dates: during 1970-1979
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...increase for hospital workers; failing that, 2.5 million public employees will stage a sympathy strike, followed by a crippling one-day general walkout. After six hours of fruitless talks, the Premier has had enough. "No!" he declares angrily. The nation's inflation rate is at 12%. To breach wage guidelines with yet another raise for a major union would destroy the government's efforts to stabilize the economy. Startled by the Premier's vehemence, the union leaders accept his face-saving compromise for a raise that falls below government limits...
Last year 43% of the cotton products bought by Europeans were made abroad, in many cases by firms set up by European manufacturers. The most prominent suppliers were Hong Kong and South Korea. All these countries were simply taking advantage of the high wages earned by European textile workers. In Belgium the average hourly wage is $9.17; in West Germany, $8.80; in Italy, $5.78. Textile workers get 98¢ an hour in Hong Kong and 62¢ in South Korea...
...writes good wage pacts. He enjoys the respect and admiration of minority groups. He is gutsy, no doubt about that. A businessman, a czar, has to be in charge of the economy. Nothing is going to be accomplished until the people overseas see that somebody is in charge. Also, there are elements of leadership in the Ways and Means Committee, and they will listen to someone who speaks their language. Ford is the kind...
...regulation. In a landmark study, Economist Edward Denison of the liberal-oriented Brookings Institution calculated that environmental, health and safety regulations cut 1.4 points per year from U.S. productivity growth between 1967 and 1975. "There can be no doubt," says a study by the President's Council on Wage and Price Stability, "that much of the productivity collapse in mining and in utilities can be attributed to social legislation that protects the environment and safety of miners...
Though public opinion polls show that an overwhelming 75% of the country's people favor restrictions on the growth of private consumption over the next two or three years, labor is already bucking the wage guidelines. The liquor deliverers, who are demanding a 15.6% pay raise, have begun a strike that presents aquavit-loving Norwegians with the sobering prospect that their country may have its first dry Christmas since prohibition ended in 1927. Whether or not that happens, Norwegians caught in the freeze can take at least some solace from the fact that King Olav V's annual stipend...