The Economy: Contracts

Two down—one to go. Walter Reuther is keeping the score, and recording it in some of the most generous figures in Detroit's history. By chalking up another victory at Ford last week, Reuther took the contract that he won from Chrysler one step farther toward becoming the labor manifesto of the auto industry. In the worried view of the economists (see following story), he may also have taken the nation another big step toward the revival of inflation.

The settlement, which will cost Ford an estimated 57¢ an hour for every worker, gives...

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