Word: waging
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Dates: during 1980-1989
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...better. While the major recovery programs like the NRA and AAA have faded into history, many of Roosevelt's reforms-Social Security, stock market regulation, minimum wage, insured bank deposits-are now taken for granted...
...action now." To end the crisis, he would seek from Congress a "broad Executive power to wage a war against the emergency, as great as the power that would be given to me if we were in fact invaded by a foreign foe." This was the passage that, somewhat ominously, drew the loudest applause...
Hopkins too was a master builder. The WPA created New York's La Guardia Airport, for example, and restored the St. Louis riverfront. But the most remarkable aspect of the WPA was its willingness to put people to work at their own trades (average wage: $50 to $60 a month) and to try anything. The WPA excavated Indian burial grounds in New Mexico, translated and indexed French and Spanish records in New Orleans, operated the bankrupt city of Key West, Fla. Unemployed writers like Conrad Aiken and John Cheever were put to work creating the American Guide series. Artists...
...almost 50% since 1929, the NRA invited all employers within a given industry to ignore the antitrust laws and draw up their own "codes of fair competition." That implicitly permitted not only production curbs but legalized price fixing. On the other hand, to stop the rapid spread of wage cuts and unpaid overtime, the NRA codes were also supposed to include such things as minimum wages (set at $12 a week), maximum hours (40), a ban on child labor and a guarantee of the right to organize unions...
...generation of college economics students learned that maxim from the classic textbook by Paul Samuelson. Labor unions had become so strong, the reasoning went, that they had virtually repealed the law of supply and demand as it applies to jobs and wages. Even in difficult economic times, unions would prefer to sacrifice jobs rather than relinquish hard-won gains hi salaries or benefits. During the 1973-75 recession, the worst since the Great Depression, many workers went on strike or suffered layoffs so that they would not have to give up what they won in past wage negotiations...