Word: capitalists
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Capital-the funds left over from present consumption and used to produce future benefits-is more than the core of the capitalist system. Even the anti-capitalists of Moscow recognize it as the force that corrals human energy and in genuity, transforming it into machines and factories, roads, rail lines, bridges, telegraph nets and power plants. Capital begets capital because it leads to production. That creates jobs and income, which in turn produce more capital and more demand for it. The Atlantic Council of the U.S.-a group of U.S. Government and business leaders-estimates that, in the ten-year...
...Sneers. From Budapest to Peking, Communists greeted the gold stampede with outright gloating-showing at least that Lenin's followers still heed his counsel: "The way to defeat the capitalist system is to debauch its currency." Crowed the Polish trade-union council, Glos Pracy: "The dollar is doomed. It is possible that joint efforts by world financial circles will stave off the crisis temporarily, but this will only postpone the execution." Sneered the New China News Agency: "The capitalist monetary system has in fact collapsed...
...John Vaizey. "A rise in the price of gold is inevitable now. It's like a grand opera of which the overture is over, and we're in the first act of a world depression." A usually unemotional Swiss banker warned that "in participating in gold speculation, capitalists are doing their best to destroy the capitalist system. If they win the battle in London, the probability is that the whole present international monetary system will come crashing down." French Economist Jacques Rueff, who has long predicted a crisis and argued for a rise in the price of gold...
...rulers such as Indira Gandhi nor the generals who have taken over from the postcolonial politicians in many South Asian nations have had much success in changing these attitudes. The result is that the best-laid, often Western-tutored, economic plans consistently go awry. Whether military or civilian, nominally capitalist or self-styled socialist, "the various political systems in the region are strikingly similar in their inability or unwillingness to institute fundamental reforms and enforce social discipline. They are all in this sense 'soft states.' " And, adds Myrdal: "There is little hope in South Asia for rapid development...
...opportunity for grafters, people who charge exorbitant rents for private houses and those who haul in the tips of the big spenders. Simply by meeting Moscow's quota and more, Lipyan pleases his masters and has enough left over to make him that theoretically impossible anachronism: a happy capitalist in a proletarian society...