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1952 Steel Strike
The 1952 steel strike was a strike by the United Steelworkers of America (USWA) against U.S. Steel (USS) and nine other steelmakers. The strike was scheduled to begin on April 9, 1952, but US President Harry Truman nationalized the American steel industry hours before the workers walked out. The steel companies sued to regain control of their facilities. On June 2, 1952, in a landmark decision, the US Supreme Court ruled in '' Youngstown Sheet & Tube Co. v. Sawyer'', 343 U.S. 579 (1952), that the President lacked the authority to seize the steel mills. The Steelworkers struck to win a wage increase. The strike lasted 53 days and ended on July 24, 1952 on essentially the same terms that the union had proposed four months earlier. Wage control policy during the Korean War On February 9, 1950, Senator Joseph McCarthy denounced the Truman administration for permitting known communists to remain in the employment of the federal government. The incident sparked a four-year period ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
South Korea
South Korea, officially the Republic of Korea (ROK), is a country in East Asia, constituting the southern part of the Korea, Korean Peninsula and sharing a Korean Demilitarized Zone, land border with North Korea. Its western border is formed by the Yellow Sea, while its eastern border is defined by the Sea of Japan. South Korea claims to be the sole legitimate government of the entire peninsula and List of islands of South Korea, adjacent islands. It has a Demographics of South Korea, population of 51.75 million, of which roughly half live in the Seoul Capital Area, the List of metropolitan areas by population, fourth most populous metropolitan area in the world. Other major cities include Incheon, Busan, and Daegu. The Korean Peninsula was inhabited as early as the Lower Paleolithic period. Its Gojoseon, first kingdom was noted in Chinese records in the early 7th century BCE. Following the unification of the Three Kingdoms of Korea into Unified Silla, Silla and Balhae in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cyrus S
Cyrus (Persian: کوروش) is a male given name. It is the given name of a number of Persian kings. Most notably it refers to Cyrus the Great ( BC). Cyrus is also the name of Cyrus I of Anshan ( BC), King of Persia and the grandfather of Cyrus the Great; and Cyrus the Younger (died 401 BC), brother to the Persian King Artaxerxes II of Persia. Etymology Cyrus, as a word in English, is the Latinized form of the Greek Κῦρος, ''Kȳros'', from Old Persian ''Kūruš''. According to the inscriptions the name is reflected in Elamite ''Kuraš'', Babylonian ''Ku(r)-raš/-ra-áš'' and Imperial Aramaic ''kwrš''. The modern Persian form of the name is '' Kūroš''. The etymology of Cyrus has been and continues to be a topic of discussion amongst historians, linguists, and scholars of Iranology. The Old Persian name "kuruš" has been interpreted in various forms such as "the Sun", "like Sun", "young", "hero," and "humiliator of the enemy in verbal contest" and the Elamite "kura ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alan Valentine
Alan Chester Valentine (February 23, 1901 – July 14, 1980) was an American academic who competed on the gold-medal winning American rugby union team in the 1924 Summer Olympics, was president of the University of Rochester, and served in the Truman Administration as a Marshall Plan official and as the first head of the Economic Stabilization Agency. Biography Born in Glen Cove, New York, to a Quaker family, Valentine obtained his B.A. degree at Swarthmore College, M.A. degree at the University of Pennsylvania's Wharton School, and then a subsequent M.A. at Balliol College of Oxford University as a Rhodes Scholar. In 1924, he played for and coached the American 1924 Olympic champion Rugby team. Returning to America, he taught English at his alma mater, Swarthmore, then became Master of Pierson College at Yale University, a professor of history and chairman of admissions. Valentine married Lucia Garrison Norton, cousin of abolitionist William Lloyd Garrison, in 1928. The c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Division Of Labor
The division of labour is the separation of the tasks in any economic system or organisation so that participants may specialise (specialisation). Individuals, organizations, and nations are endowed with, or acquire specialised capabilities, and either form combinations or trade to take advantage of the capabilities of others in addition to their own. Specialised capabilities may include equipment or natural resources as well as skills, and training and combinations of such assets acting together are often important. For example, an individual may specialise by acquiring tools and the skills to use them effectively just as an organization may specialise by acquiring specialised equipment and hiring or training skilled operators. The division of labour is the motive for trade and the source of economic interdependence. Historically, an increasing division of labour is associated with the growth of total output and trade, the rise of capitalism, and the increasing complexity of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wage Stabilization Board
The Wage Stabilization Board (WSB) was an independent agency of the United States government whose function was to make wage control policy recommendations and to implement such wage controls as were approved."Executive Order 10161, September 9, 1950," John Woolley and Gerhard Peters, The American Presidency Project, no date. There were two agencies with the same name. The first, the National Wage Stabilization Board, was the successor to the National War Labor Board, and existed from January 1, 1946, to February 24, 1947. The second, the Wage Stabilization Board, was a part of the Office of Defense Mobilization and existed from September 9, 1950, to February 6, 1953. National Wage Stabilization Board The first agency, known as the National Wage Stabilization Board, was established by President Harry S. Truman within the United States Department of Labor in on January 1, 1946. The purpose of the new agency was to continue the work of the National War Labor Board. Executive Orde ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Office Of Price Stabilization
An office is a space where an organization's employees perform administrative work in order to support and realize objects and goals of the organization. The word "office" may also denote a position within an organization with specific duties attached to it (see officer, office-holder, official); the latter is in fact an earlier usage, office as place originally referring to the location of one's duty. When used as an adjective, the term "office" may refer to business-related tasks. In law, a company or organization has offices in any place where it has an official presence, even if that presence consists of (for example) a storage silo rather than an establishment with desk-and-chair. An office is also an architectural and design phenomenon: ranging from a small office such as a bench in the corner of a small business of extremely small size (see small office/home office), through entire floors of buildings, up to and including massive buildings dedicated entirely to one c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Stabilization Agency
The Economic Stabilization Agency (ESA) was an agency of the United States Government that existed from 1950 to 1953. The creation of the ESA was authorized by the Defense Production Act (, 64 Stat. 798), which was signed into law by President of the United States Harry S. Truman on September 8, 1950. The Defense Production Act was passed in response to the start of the Korean War and authorized the President to control the civilian economy so that scarce and/or critical materials necessary to the national defense effort are available for defense needs."The Defense Production Act: Choice as to Allocations," ''Columbia Law Review,'' March 1951; Lockwood, ''Defense Production Act: Purpose and Scope,'' June 22, 2001. On September 9, 1950, President Truman signed the Executive Order 10161, thus creating the ESA. The ESA was responsible for imposing price ceilings and wage controls on the United States economy. In this capacity, the ESA was responsible for supervising the Office ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Executive Order (United States)
In the United States, an executive order is a directive by the president of the United States that manages operations of the federal government. The legal or constitutional basis for executive orders has multiple sources. Article Two of the United States Constitution gives presidents broad executive and enforcement authority to use their discretion to determine how to enforce the law or to otherwise manage the resources and staff of the executive branch. The ability to make such orders is also based on expressed or implied Acts of Congress that delegate to the president some degree of discretionary power (delegated legislation).John Contrubis, '' Executive Orders and Proclamations'', CRS Report for Congress #95-722A, March 9, 1999, Pp. 1-2 The vast majority of executive orders are proposed by federal agencies before being issued by the president. Like both legislative statutes and the regulations promulgated by government agencies, executive orders are subject to judicial ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Defense Production Act
The Defense Production Act of 1950 () is a United States federal law enacted on September 8, 1950 in response to the start of the Korean War.Congressional Research ServiceThe Defense Production Act of 1950: History, Authorities, and Considerations for Congress, updated November 20, 2018, accessed January 17, 2019 fas.org It was part of a broad civil defense and war mobilization effort in the context of the Cold War. Its implementing regulations, the Defense Priorities and Allocation System (DPAS), are located at 15 CFR §§700 to 700.93. Since 1950, the Act has been reauthorized over 50 times. It has been periodically amended and remains in force. Provisions The Act currently contains three major sections. The first authorizes the president to require businesses to accept and prioritize contracts for materials deemed necessary for national defense, regardless of a loss incurred on business. The law does not state what would occur if a business refuses or is unable to complete ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inflation
In economics, inflation is an increase in the general price level of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money. The opposite of inflation is deflation, a sustained decrease in the general price level of goods and services. The common measure of inflation is the inflation rate, the annualized percentage change in a general price index. As prices do not all increase at the same rate, the consumer price index (CPI) is often used for this purpose. The employment cost index is also used for wages in the United States. Most economists agree that high levels of inflation as well as hyperinflation—which have severely disruptive effects on the real economy—are caused by persistent excessive growth in the money supply. Views on low to moderate rates of inflation are more varied. Low or moderate inflation may be attri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Incomes Policy
Incomes policies in economics are economy-wide wage and price controls, most commonly instituted as a response to inflation, and usually seeking to establish wages and prices below free market level. Incomes policies have often been resorted to during wartime. During the French Revolution, "The Law of the Maximum" imposed price controls (by penalty of death) in an unsuccessful attempt to curb inflation, and such measures were also attempted after World War II. Peacetime income policies were resorted to in the U.S. in August 1971 as a response to inflation. The wage and price controls were effective initially but were made less restrictive in January 1973, and later removed when they seemed to be having no effect on curbing inflation. Incomes policies were successful in the United Kingdom during World War II but less successful in the post-war era. Theory Incomes policies vary from "voluntary" wage and price guidelines to mandatory controls like price/wage freezes. One var ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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