Wage Stabilization Board
- (WSB)Established in 1950, the WSB was a board of 18 officials representing public, labor, and management equally with the authority to control wages to limit inflation during the Korean War. However, the labor members resigned after the board voted to limit wage increases to 10 percent in February 1951, and the board was reorganized. In March 1952, the board granted wage increases and recognized a union shop in the steel industry. When this was rejected by the steel companies, President Harry S. Truman ordered the takeover of the steel mills to avert a strike. When this action was declared unconstitutional by the Supreme Court in Youngstown Sheet & Tube Co. v. Sawyer in April, the mills were returned to their owners and a strike ensued. After 53 days, a settlement was agreed upon close to that proposed by the WSB. The board was abolished in February 1953.See also Trade Unions.
Historical Dictionary of the Roosevelt–Truman Era . Neil A. Wynn . 2015.
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