Word: offing
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1970
Sort By: most recent first
(reverse)
Even that does not solve the inflation problem. A solution requires still an extra degree of unemployment and economic slack?enough to make the most skilled workers fear loss of their jobs if they demand higher wages and to make employers pale at the thought of the markets they will...
Why? Paradoxically, inflation has been aggravated by the long-range planning of business and labor, which has traditionally been viewed as a great aid to economic stability. Alan Greenspan, a Manhattan economist who has advised President Nixon, notes that the average length of union contracts has increased from two years...
Nobel Laureate Paul Samuelson identifies another source of trouble: the power of unions and companies that makes them largely independent of market pressures. To take an egregious example, unemployment among aerospace engineers?or even hardhats?does not affect the behavior of the monopolistic construction unions, which rigidly control access to...
Inflation has also been fired up by the growing economic importance of the service trades. Wages in the services tend to keep pace with manufacturing wages, but service productivity does not. It is much harder to increase the output of a fireman or hospital attendant than of a steelworker. In...
(9 of 11) buying a new car but not the renewal of insurance policies on its old auto.