Word: eca
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Dates: during 1950-1959
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...Export of Principles. The decade of handouts-UNRRA, ECA, FOA-is ending, not because Uncle Sam has reverted to Uncle Shylock but because handouts are no longer pertinent to the world's need. The need now is for installing around the world the mainsprings-not merely the products-of U.S. prosperity. These mainsprings are mostly principles: reasonably stable money, reasonably free play of the price mechanism, unrestricted movement of money, goods and labor within a competitive market large enough to support and encourage mass production. If other countries absorbed these principles, their economic progress might begin to match that...
Cornigliano is a study in superlatives: Italy's biggest single postwar industrial construction, its biggest steel plant, its biggest ECA project. Three years and 44 million man-hours went into building Cornigliano; just to create its 250-acre site near Genoa, a million cubic yards of rubble fill were dumped into the Ligurian Sea. Cornigliano was to vitalize Italy's struggling steel industry, help cut its production costs 40% and raise its output 75%. The goal: to make Italian steel competitive for just about the first time since the Etruscans pounded out iron for the Greek trade...
Midwest Republican Randall went to Paris in 1948 as the steel consultant to the Truman Administration's ECA. He came back with a permanent interest in Europe's industry, a newly acquired ability to speak French, and a conviction that the U.S. would have to deal with the world's problems for a long time to come. "Chicago," he said, "is not so far from the Ruhr as people think...
...accept his ECA associations uncritically. He has denounced Europe's capitalists as "cartel-ridden," attacked Point Four as "a Mad Hatter's race" ("Our billions will be wasted for lack of an existing entrepreneurial class in the backward countries"). He looks askance at Europe's Schuman Plan for pooling steel resources, considers it an incentive to "socialism...
...Washington he also served as a consultant to ECA, and as foreign policy advisor to Dewey in his 1948 campaign. He edited a book of Dean Acheson's papers. In 1949, he returned to Harvard as visiting lecturer and was made an associate professor...