Word: businessmen
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Dates: during 1950-1959
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...BUSINESSMEN in the U.S. are traditionally leery of government interference in the economy. Nations that have shed colonial rule tend to be equally suspicious of capitalism. Thus, a prime problem of the San Francisco conference was: Where should governments leave off and private enterprise take over in developing backward economies...
World Bank President Eugene Black spoke for most U.S. businessmen when he criticized governments for "stifling" private enterprise through state ownership of productive industries. Several Asians contended that government financing was essential for key industries that do not readily attract private investment. But neither Black nor any other speaker at the conference argued that an agricultural nation could hope to struggle up from poverty until its government has developed the basic facilities of an industrial economy: roads, harbors, railways, communications, schools, reservoirs, power plants. In fact, since private capital is seldom available for such projects, the government must foot...
...businessmen of the world, meeting in San Francisco, the world's prime economic problem is inflation. The economic disease may be relatively mild, as in the U.S., where prices have risen 3.6% in a year after staying level for four years. Or it may be virulent, as in Brazil, where living costs have risen at a rate of 20% a year for the past six years. None of the conference representatives had any trouble naming the chief causes: 1) the desire of everyone to consume goods faster than production−and the productivity of labor −can be increased...
...BUSINESSMEN never forget that the chief business of business is business. Whether gathered in small groups in the crowded lobby of the Fairmont Hotel, over cocktails in hotel suites or striding along San Francisco's streets, they found themselves working through the practicability of deals that ringed the globe, rang with the names of every free-world currency...
...Pernambuco, Brazil, set up by Norbert A. McKenna, partner in Wall Street's Reynolds & Co., and Roberto de Oliveira Campos, representing Brazil's National Economic Development Bank. And for some doubters, some of the best evidence of the opportunities for foreign investments comes from U.S. and Canadian businessmen who were stationed or have traveled abroad. Among the most persuasive...