Labor: Inflationary End to a Class War

As the strike of a twelve-union coalition against General Electric Co. wore on through 14 weeks, the outcome began to seem inevitable. Many of the 130,000 strikers were as united in bitterness against their employer as any band of workers who fought the U.S. industrial class wars of the 1930s. Corporations rarely win that kind of struggle today. Last week G.E. agreed with the two leading unions on contract terms that should permit a resumption of work within a few days—and will further fire inflation in the nation.

The proposed pact will raise wages and benefits more than 25% over...

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