LABOR: Peace Is Profitable

The nation's largest, most profitable manufacturer and one of the nation's biggest unions last week made a bold, five-year pledge to continuing prosperity. They agreed to a contract guaranteeing 1) production without strikes for the five years of the contract, 2) an automatic wage increase every year, 3) one of the most generous pension plans in industry.

"Unprecedented," said General Motors' jubilant President Charles E. Wilson. It was, agreed the auto workers' President Walter Reuther, "the most significant development in labor relations since the mass-production industries were organized." After eight weeks of...

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