Word: consumerization
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Addressing 400 fashion experts at a Fashion Group luncheon last week in Manhattan's Astor Hotel, Allied Stores Corp.'s B. Earl Puckett was stern. "Basic utility," said he, "cannot be the foundation of a prosperous apparel industry . . . We must accelerate obsolescence." Reminding his listeners that 1948'...
Few businessmen watch the barometer of the U.S. economy more closely than industry's own purchasing agents. Their job is not to tell what has happened but what will happen to prices, consumer demand and production. In Cleveland last week, 3,000 members of the National Association of Purchasing...
The average real wage (i.e., what wages actually buy in terms of consumer goods) rose from 43? an hour in 1900 (measured 1949 prices) to $1.33 an hour in 1950. In the same span, each worker's productivity rose 2.5% a year. If this increase continues, said C.E.D., real...
Like the blind men who tried to describe an elephant, few agreed on the meaning of Congress' bill to legalize a form of basing point pricing system for U.S. industry (TIME, June 12). The bill's author, Democratic Senator Joseph C. O'Mahoney, no friend of big...
For some, the new inflation spelled trouble. Harvard Economist Sumner H. Slichter urged the Government to clamp the lid on mushrooming consumer credit, now at a near-record $18.6 billion, and admonished businessmen to "exercise caution in the accumulation of inventories." Slichter thought, however, that if employment stays up, the...