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...Chilean socialist and the American union bureaucrat were both pointing to the same phenomenon: the growing domination of the world economy over the past two decades by multinational corporations--giant firms with operations scattered all over the world. Multinationals, such as ITT, Anaconda Copper, IBM, and General Electric, coordinate production, distribution, and sales on a global scale rather than within the confines of a specific national economy. Consequently, their commitment to any particular country in which they operate is limited to the ways that country can serve as a means to its ultimate ends--the maximation of the overall profits...

Author: By Jonathan Zeitlin, | Title: A Nation of Hamburger Stands? | 6/16/1976 | See Source »

...serious economic trouble; its fortunes rise and fall on the world price of copper-the country's principal export -which has dropped from $1.41 to 68? per lb. over the past two years. Zaïre has recently begun to pay the price for Mobutu's grandiose development schemes, including a national airline, a $1 billion hydroelectric project and a new $800 million copper complex. The government was forced to devalue the currency by 42% this spring and has defaulted on $400 million in foreign loans. The inflation rate has shot up to 120% over the past three...

Author: /time Magazine | Title: ZAIRE: Mobutu: 'One Chief, Not Two' | 5/31/1976 | See Source »

Allende period and the drop in the price of copper, Chile's chief moneymaker, from an average of 930 per Ib. in 1974 to a disastrous 560 in 1975 (it has since recovered...

Author: /time Magazine | Title: CHILE: Free-Market Travail | 5/17/1976 | See Source »

Agreements of varying efficacy now exist to stabilize the prices of tin and coffee. Secretary General Corea and the Group of 77 want an "integrated program" to cover those commodities and eight others: cocoa, copper, cotton, hard fibers (like sisal), jute, rubber, sugar and tea. They will ask that a $3 billion fund be set up to accumulate stockpiles of each product. An independent group appointed by producers and consumers would be empowered to add to and sell from the stockpiles to keep world prices within a preagreed range...

Author: /time Magazine | Title: TRADE: Square-Off in Nairobi | 5/10/1976 | See Source »

...distinctive, swag façade that once hung from the roof of the stands has been reproduced atop the new $3 million-plus scoreboard-only in concrete, not painted copper. Because the value of copper has risen almost as drastically as ballplayers' salaries since 1923, the original façade was melted down and sold. Perhaps it is now plumbing in a renovated brownstone. The playing surface is still alive: Merion blue grass, in texture irregular enough to promise a few historic bounces and in color a nice uneven biological green...

Author: /time Magazine | Title: A NEW LOOK FOR THE OLD BALL GAME | 4/26/1976 | See Source »

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