Word: wages
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Dates: during 1980-1989
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With social unrest growing, the Brazilian Congress seems increasingly likely to reject a presidential decree that, beginning last month, limited cost-of-living wage hikes for all Brazilian workers to 80% of increases in the consumer price index. The IMF had demanded such action as a precondition for further loans. Without such a law, the battle against inflation seems doomed. So far this year the price of bread has gone up 85%, rice 151%, beans 369% and potatoes 498%. Indeed, it may take another Brazilian economic miracle like the one in the 1970s for the country to reduce inflation...
...South Africa has particularly led the ACSR to make sweeping policy recommendations. The Committee made its first statement on the subject in 1978. This was a relatively specific recommendation that Harvard check that the companies it invests in abide by the Sullivan Principles, which set forth suggested minimum wage and labor standards for U.S. companies operating in South Africa. President Bok issued a policy statement that year agreeing with the ACSR recommendation, and stating that the University would divest from companies that fail to meet the minimum requirement of the Sullivan Principles. Nevertheless, to this day the University...
...refusing to take pay cuts to go with the shorter hours. That has left companies without new funds to hire additional people. Some European observers argue that such an outcome should have been expected. Says P.O. Klandermans, a social psychologist at Amsterdam's Free University: "Employees may take wage cuts to avoid layoffs, but that is maintaining existing jobs, not creating new ones. I've never heard workers say that they were willing to take home less pay to create new jobs for someone else...
...addition, many companies now disclose an unprecedented amount of information on the labor, practices of their subsidiaries in South Africa. Several firms release periodic reports detailing their South African subsidiaries' wage scales. Black training and advancement programs and support for projects in the Black community. Frequent meetings with shareholders concerned over the South Africa issue have at times resulted in disclosure of additional information and have exposed management to alternative viewpoints...
...South Africa has particularly led the ACSR to make sweeping policy recommendations. The Committee made its first statement on the subject in 1978. This was a relatively specific recommendation that Harvard check that the companies it invests in abide by the Sullivan Principles, which set forth suggested minimum wage and labor standards for U.S. companies operating in South Africa. President Bok issued a policy statement that year agreeing with the ACSR recommendation, and stating that the University would divest from companies that fail to meet the minimum requirement of the Sullivan Principles. Nevertheless, to this day the University...