LABOR: The Price of Peace

The phrase "catchup increases" is being heard more and more these days in labor negotiations. Inflation has eaten away at the dollar so relentlessly that workers are demanding retroactive cost of living increases just to keep even with rising prices. Last week high settlements in the telephone and copper industries and in the postal service continued the trend. And there is little doubt that the philosophy of catching up is playing a major role in the steel talks that are now under way to replace the industry's current labor contract, which will...