Word: outputted
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Task forces and subcommittees abound, but their output so far has been slight. Final proposals by the President to Congress have been slighter still. As yet, there is no Administration policy on such high-priority issues as social security, poverty, welfare, transportation and the war against crime...
...make matters worse, wages are rising much more rapidly than workers' productivity, as measured by the Commerce Department. As a result, labor costs per unit of output are climbing steadily. Manufacturers are compensating by raising the prices of their products. Thus, even large pay raises have yielded little if anything in added purchasing power. During the last three years, in fact, the purchasing power of the average U.S. worker has done no better than hold steady. Union leaders now feel that they must push for giant wage and benefit increases to keep their members ahead of price boosts...
...same returns. Meanwhile, the wellhead price of oil has risen hardly at all. Partly because of climbing costs, the number of wildcat wells drilled has declined from 16,200 in 1956 to 8,900 last year. While many other countries are sharply increasing oil production in 1969, U.S. output is expected to rise only...
...supply funds to finance the Government debt. Last summer the board's governors rroneously concluded that the surcharge might jolt the economy into recession. The board then expanded the money supply at an annual rate of 11%, which meant that there was more money around than the increased output of goods warranted. Naturally, prices went up faster than be fore. So far this year, the board has not increased the money supply at all, but its mistake of 1968 set back the campaign against inflation by about six months. With 20/20 hindsight, Arthur Okun, who was President Johnson...
Pride v. Efficiency. Actually, Barreiros had had little control of the firm for some time. After the first disap pointing year of partnership, when car output was barely half of his overly optimistic goal of 92,000, Chrysler invested another $20.5 million to save the enterprise from caving in. In 1967, Chrysler raised its interest in the company to 77%. Barreiros was still president-and his brothers Valeriano, Graciliano and Celso were all members of the management group-but his family had only a minority voice. Unmistakably, Chrysler then started running the company through its own efficiency-minded...