Word: capitalists
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Despite a slight recession and an imbalance of payments-difficulties common to many Western lands at the moment-Finland now enjoys one of the world's highest standards of living. The Finn's capitalist welfare state gives him six weeks' vacation, during which he deserts the city for his cottage on one of the country's 60,000 lakes. There he swims, sails, fishes and plays pesäpallo-an imported variation of baseball. And he reads; Finns buy more books per capita than any other nation...
...shares traded, and the Dow, although off 3.56 points, finished at 882.24, a level no one would have predicted 25 years ago. On hand to salute the viable U.S. economy which made all this possible was Hubert Humphrey, who described himself as a "longstanding capitalist as the proprietor of Humphrey's Drug Store in Huron, S. Dak.," a role he played before he became Minneapolis mayor, U.S. Senator and finally Vice President...
Most of its members also won't buy the notion that becoming a professional entails a sell-out to the system. The Negro activist is now bored with constant, vague polemics about the "oppressive, capitalist system" while action not abstraction is needed...
...What are the relative roles of the competitive and the oligopoly sectors? Caves tells us that "markets with few sellers play a prominent role in manufacturing in the American economy," but there is no discussion anywhere of the revolutionary implications this has for the whole market capitalist system, of which price competition formed the leading ideological-economic justification. Nor is there any controversy over the role (as distinguished from the market conduct or performance) of the corporation in the modern economy. Readings on this question, both sympathetic and hostile to the economic role of the private corporation, should be introduced...
...itself." Communism, notes Harrington, propagandizes for the same confusion in order to exploit the appeal of socialist ideals. There is no reason for Ec 1 to engage in the same over-simplification. It would be as if Hitler's Germany were chosen as a model for a modern, advanced capitalist economy. At the very least, the section from Grossman on democratic socialism, although not particularly sympathetic, should be introduced into the readings. But we feel it would be fair, since the course presents pro-capitalist authors writing about capitalism, to present at least one pro-socialist writer on socialism...