Word: sectored
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While it did very well in its most recent military endeavors, Israel needs economic help. Last week more than 450 leading financiers, manufacturers and economists from 29 countries jetted to Jerusalem for talks on building up Israel's private sector. When the four-day conference ended, Premier Levi Eshkol could declare without over statement that it had "surpassed our most optimistic expectations...
...brutal diagnosis of the country's ills. They complained that exports were hopelessly hobbled by high taxes, government meddling and Israel's undisciplined labor force. More serious, they said, was the fact that Israel could never hope to attract more than sentimental investment in its private sector while its socialist system encouraged control of 24% of the nation's overall production by Histadrut, the nationwide labor confederation, and government ownership of such key industries as aircraft and mining...
...savings and capital formation. Economist John W. Kendrick of George Washington University has calculated that Americans have accumulated financial assets of $2.4 trillion, mostly in bonds, stocks, savings accounts, pension funds and life insurance. Last year the U.S. added $129 billion to its stock of capital in the private sector of the economy. The greatest source was not people but businesses, which added $90 billion, primarily through reinvested earnings and depreciation allowances...
Predictably, congressional reaction split along geographical and ideological lines, though many legislators were keeping an open mind. While Mahon voiced the sentiment of the hard core rural and Southern areas, New York Democratic Representative Richard McCarthy spoke for the urban sector. "It is my hope," said he, "that the historians will not be looking back at me and the rest of us and declare that we constituted the 'Nero Congress' which took this report and did nothing about...
...continuing work should be undertaken to develop bargaining procedures and machinery aimed at preventing strikes, rather than banning them and punishing strikers. While situations will differ widely from one state and city to another, some forms of fact-finding, conciliation, mediation, arbitration and injunction to work in the public sector must be devised. Third, despite all the complications involved, it must be recognized that there are differences among various kinds of public service -that some are more essential than others. Certainly no strike of policemen, firemen or prison guards can be tolerated. But a strike of clerical workers...