Word: wages
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Dates: during 1980-1989
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...confrontation at Iowa Beef, the largest U.S. beef processor, comes at a time of generally quiet labor-management relations in the U.S. The last thing most workers want is a long strike in a deep recession. Many unions are giving back past contract gains or accepting meager wage hikes. Nearly 2 million union members, primarily in the auto and trucking industries, have forgone raises in contracts negotiated in the first half of the year. The Labor Department released figures last week on major collective-bargaining agreements showing that from January to June, average salary increases, including cost of living adjustments...
...regain the traditional economic subsistence rights wrested away from them by a bourgeois-dominated state. This conflict--"Democracy vs. Capitalism"--eventually produced the Welfare State to protect workers (or "ordinary people," or the "poor" Pivan and Cloward interchange these phrases quite loosely) from the ravages of unemployment and wage cuts. Hence, Piven and Cloward see the Reagan economic and social agenda as simply the most recent big business program for restoring an acceptable brand of social discipline...
...past month, Portugal and New Zealand, as well as France, have tried to attack inflation directly by imposing controls on wages, prices or both. Though attractive in principle, such policies are difficult to administer in practice. To make them work, governments must monitor hundreds of thousands of wage and price decisions. Moreover, past experience with controls, including the wage-price freeze imposed by President Nixon in 1971, shows that inflation returns once the restrictions are lifted. Says Economist Clifford Hardin, who was a member of the Cost of Living Council that oversaw Nixon's freeze: "Wage and price controls...
...board agreed that Western European leaders have little choice but to continue their anti-inflationary policies. France's go-it-alone attempt during the past year to attack unemployment through an expansionary economic policy ended embarrassingly last month in the devaluation of the franc and the establishment of wage and price controls...
...wage and price controls will undoubtedly lead to a slowdown in inflation. For the first six months of the year, prices rose in France at an annual rate of 13.5%, which was more than twice the pace of inflation in the U.S. and West Germany. The big question, though, is what happens when price and wage controls are lifted in October. Chevalier foresees a 1% increase in the last three months of the year, which would result in an annual inflation rate of 10.5%. Said he: "This is not a very big success, but it is acceptable...