Word: alling
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Dates: during 1980-1989
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The magic words "Marshall Plan" are already being heard. It worked once, didn't it, on a continent ravaged by war? Since Eastern Europe's factories and distribution systems are all intact, if bedraggled, shouldn't a little pump priming bring forth a gusher of goods?
Here caution is indicated. Western Europe lay in ruins in 1945, but attitudes and skills had survived. The invisible destruction in Eastern Europe is worse than the visible devastation wrought by war. Managerial talents have been blighted by a half-century under an economic system that practiced pick- a-number...
One of Eastern Europe's main problems is concealed inflation: too much money chasing too few goods. West Germany's remarkable postwar recovery was based on a brutal currency reform that in 1948, under Allied military government, destroyed all savings and, by restoring the scarcity value of money, ended the...
All this means that it is much more of a challenge to Western entrepreneurs to be there on the ground as participants in perestroika than to stand outside and sell things to the East. What advice should be given to the intrepid? Efforts must play to Eastern Europe's limited...
A cynic might suspect that one arm of the Government had protected another. The CIA swore to Attorney General Dick Thornburgh that if Joseph Fernandez, its former station chief in Costa Rica, were to use certain classified documents to defend himself at his Iran-contra trial, the nation's security...