Word: ebtehaj
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Dates: during 1950-1959
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IRAN, whose two-year-old development program looks ultimately to a wholly free economy. Abol Hassan Ebtehaj, director of Iran's Seven-Year Plan Organization, said that his country will spend $1.1 billion in oil revenues to build "basic 'facilities which will create the climate necessary to stimulate private enterprise. Our philosophy is to develop and operate industry only when private capital is unable or unwilling to do so." While emphasizing that foreign capital is essential to the.program, Ebtehaj said that the country's greatest present need is for consultants, industrial managers, technicians. "Our need...
...need for dedicated advisers and investors was a constant theme with Asian and African delegates, resentful of colonial exploitation. But Iran's Ebtehaj pointed up another evil heritage: the bitter memory of exploitation of the people of underdeveloped countries by their own kind. Free enterprise still suffers in Iran, Ebtehaj said, from a "disastrous" experiment before World War II. Locally owned textile mills were established. Many small investors bought stock. The big stockholders, who exercised control, robbed the mills by overcharging for raw cotton they sold to the mills and underpaying for finished textiles they bought back from...
...there time?" asked Ebtehaj, echoing a major theme of the conference. "Is there time in which to effect these physical improvements in the standard of living, and yet to maintain the basic freedoms in which all of us here believe? We believe there is time−provided that our program in Iran responds to the spur of urgency. To such a spirit of urgency and decisiveness we are fully committed...
...chiefly products of the initiative and resourcefulness of the individual working through the institutions of private enterprise. A few of the men who share this belief: Canada's Gordon Graham, India's G. D. Birla, Belgium's Paul Van Zeeland, Iran's A. H. Ebtehaj, Brazil's Walther Moreira Salles. Conference chairman will be TIME'S Editor-in-Chief Henry R. Luce...