Word: consumerization
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Work to Do. Eying profits, many a consumer asked whether industry had done its share to keep prices and inflation down. Many a company had not. Said Commerce Secretary Charles Sawyer: "In some cases, price increases have been more than necessary to cover costs, and have contributed to the inflationary...
But it was no longer as simple as that. More mechanization would probably lower mining costs. Unless some of this saving was passed on to the consumer, coal consumption would fall still farther. With oil and coal both plentiful now, high-priced coal is barely able to compete with oil...
Would the new era mean cheaper coal for consumers? There was some doubt; John L. Lewis' miners would have to be taken into account. Due partly to the warm weather, 69 million tons of coal were above ground at last count; in the piles was enough fuel for 45...
It brought out its revolutionary new records at a time when the business had gone to pot, largely because of consumer apathy. The "L.P." record caught on so well that the industry estimated Columbia has sold $5,000,000 of the new records in four months, double what it had...
The A.F.L.'s economist, Nelson Cruikshank, was even blunter. Cruikshank thought the practice of retaining earnings for capital investment rank injustice. Snapped Cruikshank: "Taxation by corporation without representation. Through prices paid for consumer goods, buyers are providing capital for industries over which they have no control and from which...