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...proceedings open with a suitably clever premise-grade-A Alec Guinness, actually. Four respectable citizens, pillars of a Fairfield County country club, have lost their upper-tax-bracket jobs during the present little economic adjustment. They make up the champagne casualties - the affluent walking wounded. Sandy Campbell is an ex-vice president of a mutual fund, shot down with the market. Jack Carmody is an ex-ad-agency ace, gone up in smoke with his TV cigarette accounts. Sam Deitsch is a dress manufacturer who laid it on the hemline for the midi. Harry Price is all the has-beens...

Author: /time Magazine | Title: Books: Phase II Fallout | 3/6/1972 | See Source »

Bangladesh is gaining recognition. Last week Britain, West Germany and ten other Western states formally recognized the new nation, bringing to 29 the number of countries that have established diplomatic relations with the government of Sheik Mujibur Rahman. Britain's decision, Foreign Secretary Sir Alec Douglas-Home told the House of Commons shortly before he left for a visit to India, "recognized the reality of what has happened in the area over the past month, and will be the beginning for us of a new era of friendship and cooperation with all the countries of the subcontinent...

Author: /time Magazine | Title: BANGLADESH: Recognizing Reality | 2/14/1972 | See Source »

...Rhodesia a few days earlier. The task of the commission, which was headed by Lord Pearce, a retired appellate judge, was to assess whether the Rhodesian people, both black and white, would accept or reject the settlement that had been proposed by Smith and British Foreign Secretary Sir Alec Douglas-Home (TIME, Dec. 6). In theory at least, the settlement would lead to a very gradual increase in black political power...

Author: /time Magazine | Title: RHODESIA: Rampage of Protest | 1/31/1972 | See Source »

...satisfying combination of doom and glory. He is preparing to cut classes for the tenth straight day. Fascinated classmates crowd round to be recognized or snubbed, as black-princely honor requires. Expertly-he is practiced at this-Raul builds his mood from their reactions. He must have theater. Alec, a worldly friend, asks why Raul has dressed in black. "I'm in mourning for my life," he replies. "Who is that from?" asks Alec, a bit off balance. "Chekhov," says Raul. "Ah, yes. But what play?" says Alec, recovering nicely. " 'The Sea Gull, I think. Yes, definitely...

Author: /time Magazine | Title: Books: The Black Prince | 1/31/1972 | See Source »

...coincidence, while the money deal was being made at the Smithsonian Institution in Washington, another conference was held at the Brookings Institution, half a mile away. There a group of twelve top economists -including Britain's Sir Alec Cairncross, Japan's Saburo Okita, and the U.S.'s Richard Cooper and C. Fred Bergsten-drafted a plan for a world monetary system that would accomplish precisely the goal that the Group of Ten rich nations agree is necessary but have done little to achieve. Central to the proposal is the creation of more IMF-managed reserves to replace...

Author: /time Magazine | Title: WORLD MONEY: A More Equal System | 1/3/1972 | See Source »

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