Word: willingly
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Dates: during 1970-1979
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Like an aging heavyweight gone to flab, U.S. industry has fallen behind some of its world-class competitors. Many steel, rubber, auto and other essential plants have become outmoded because not enough capital has been invested in them. If the nation is to restore its technological edge, U.S. industry will...
Nowhere is the need for this conversion process more acute than in the hulking, old steel industry. Fully 26% of its plant is outdated, and replacing it with the best technology available will require tens of billions of dollars. Last week the largest producer, U.S. Steel, took some belated steps...
The bill now goes to the full Senate, where it will face some fierce lobbying. Douglas Fraser, the president of the U. A.W. and a director-elect of Chrysler, protests that a wage freeze is ridiculous. Still, the freeze seems to have a good chance of passing. Even if it...
Some fortunate parts of the country may not feel the recession at all. The Southwest and Intermountain West continue to surge, largely because of high demand for their energy resources; the Southeast is also generaly well off. But heavy industry areas of the Northeast and Upper Midwest, which rely largely...
Many measures of industrial activity are lower today than they were at the beginning of the year. Like theologians discussing how many angels can dance on the point of a needle, economists may argue tirelessly whether there really was a recession in 1979 and when it arrived. But there are...