Word: capitalistically
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...leaders and Time Inc. journalists traveling through Asia on a TlME-sponsored news tour. The group was led by Editor in Chief Henry Grunwald, Corporate Editor Ray Cave and Chief of Correspondents Richard Duncan. In the past seven years, Deng, who was once sent into internal exile as a "capitalist-roader," has introduced broad and dramatic economic reforms that have decentralized decision-making and placed more reliance on free-market forces. In mid-September, he consolidated political backing for his reforms with significant personnel changes in which many of China's aging leaders were retired and younger officials moved...
...experience tells us that if we rely only on the past economic system forever, we will not be able to develop social production. So what we have done is adopt the useful things under the capitalist system. We have been pursuing the policy of opening up to the outside world, and we have been combining the market economy and the planned socialist economy. We have introduced a series of reforms in order to achieve this goal. Now it seems this is a correct policy. But has it violated the principles of socialism? I think...
Prahalad argues that squeezing profits from people with little disposable income--and often not enough to eat--isn't capitalist exploitation. In fact, tapping the spending power of the poor can reduce poverty, he maintains. Expansion by multinationals into new markets creates new jobs--product-distribution networks and shops, for example--and income earned from those jobs ripples through local economies, creating more new jobs, a phenomenon that economists call the multiplier effect. "This creates a large pool of individual entrepreneurs who are participating in an expanded economy," says Prahalad. "The company makes more profit, and the people's lifestyle...
...black élite has crossed over from politics and the ruling African National Congress (A.N.C.): Rand Club members include Cyril Ramaphosa, 52, one of South Africa's richest men, who was once touted as a possible successor to Nelson Mandela, and Tokyo Sexwale, also 52, another politician turned capitalist...
...more aggressively commercial breed of artist and dealer. How different that was from the decade before, with its monastic retreat from the marketplace. Steeped in the directives of '60s radicalism, many artists of the '70s wanted nothing to do with making deluxe commodities to be traded around in the capitalist gallery system. They deliberately moved into practices--performance art, installations, earthworks--that left behind very little that could be hung on some rich guy's walls. It was an approach that a lot of artists returned...