Word: wages
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Dates: during 1970-1979
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...agreement instead provides a train-ing program with promotions every six months and a ten cent wage increase...
INFLATION. Treadmill inflation has betrayed Middle Americans' faith in the work ethic; American affluence seems infinitely expandable, all right, but prices expand just as rapidly, or more so. Last year, despite his wage increases, the average American worker barely broke even in actual buying power. Inflation has a profound psychological as well as material importance, for it stacks the deck against the old American gamble. The nation has always bet?with extraordinary diligence, skill and luck ?that the promise of opportunity could be redeemed, that the nation's natural fertility would justify the values of hard work and individualism...