Word: wages
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Dates: during 1970-1979
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When the strike began, growers insisted farm workers observe President Carter's 7 per cent wage-price guidelines even though they exempt both growers and workers. In 1978, lettuce growers made$71 million in profits and raised the price of lettuce by over 100 per cent. When growers realized workers would not accept their 7 per cent offer, the union-busting began...
...been pushing his policies aggressively enough. Says Kennedy: "I believe those economists who say that psychology contributes at least 50% to the state of the economy. This economy has been managed erratically. Problems weren't seen ahead of time." For instance, he says, he would have established wage and price guidelines earlier than Carter and backed them with strong pressure from the White House. Kennedy is more inclined than Carter to propose a tax cut early next year to stimulate the economy...
...boardroom was part of a trade in which the U.A.W. chiefs let Chrysler off with an easier three-year wage pact than those recently signed with General Motors and Ford. The company will save about $200 million by deferring payments into its pension plan next year and a further $203 million over the next two years by delaying some wage raises and benefit improvements. By the end of the three years, however, Chrysler workers will be earning the same as GM and Ford employees, and the industry's hourly labor costs-wages, fringe benefits and pensions-will have jumped...
...SHUTTING OUT vigorous competition from abroad, trade restrictions stifle the incentive to innovate, and domestic industry only gains a paunch. So workers actually may end up benefitting from free trade in the long run, because protectionism perpetuates low-wage industries, such as textiles and shoes, at the expense of expanding higher wage export industries. While workers in the North are immediately hurt by the loss of jobs to Mexico, their successors will be better off because they may move into higher paying industries...
...receives too many benefits. I say, if military benefits are all that great, why are we having all these people leaving?" But to improve pay and benefits would be very costly. A wage increase that simply permitted servicemen to catch up with inflation since 1972 (about 75%) would cost $5 billion. Reinstating attractive educational benefits, similar to the old G.I. Bill, would run an additional $1 billion...