Word: wages
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Dates: during 1970-1979
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Those aggravations do not appear in the contract between the U.M.W. and the Pittsburg & Midway Coal Mining Co., which employs some 700 miners. While offering roughly the same wage increase ($1 an hour in the first year, 700 in each of the next two years), the company agreed to guarantee the health fund and restrict antiwildcat penalties to strike leaders and actual picketers...
...their economy in the present government than in the opposition. A poll in the [leftist weekly] Nouvel Observateur indicates that I lead Mr. Mitterrand by twelve points on confidence in the management of the economy and, still more interesting, that I even lead him among those earning the minimum wage...
...Wages The Socialists' and Communists' promise to raise the minimum wage 37%, to $500 per month by April 1. A study by the business magazine L 'Expansion indicates that these and other proposed wage increases would average 20% in 1978, boosting inflation to 18% by the end of the year (see chart). Moreover, the hikes may cause 300,000 to 400,000 bankruptcies and boost unemployment from its present level of 4.6%. Clearly, businesses in France that are already having difficulty making ends meet will not be able to pay the higher wage bills...
Socialist Leader Francois Mitterrand claims that the 1978 price of the wage and welfare package will be $8.3 billion. Premier Raymond Barre contends that the entire Common Program would cost $32.7 billion. According to Barre, Mitterrand is "a pyromaniac masquerading as a fire fighter," whose extravagant schemes will destroy the center-right government's economic achievements...
...stiff dose of Government spending, prescribed by Britain's late Dr. John Maynard Keynes to cure depression, often leads to an inflation high. The monetarist medicine formulated by Dr. Milton Friedman ?take a slow, steady increase of money supply?often produces the economic blahs. The radical surgery of wage-price controls is widely recognized as a palliative at best or, at worst, counterproductive quackery...