Word: economist
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Dates: during 1950-1959
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Over the opposition of out-of-office politicians, who denounced it as the wicked instrument of foreign powers (a British economist and a U.S. irrigation specialist sit on the board), Nuri es-Said has nursed the program through its first four years with a minimum of political graft. Today Iraq, a land of 80% illiteracy, $84-per-capita income and endemic trachoma, bilharziasis and malaria, stands on the threshold of economic expansion. It took courage to concentrate on long-term investments when demagogues demanded relief here and now. but the first fruits of Iraq's wisdom are beginning...
...Jean Monnet's Action Committee for a United States of Europe, which believes that the next, best step toward federation would be an atomic partnership called "Euratom," modeled on the six-nation Coal and Steel Community which France's Monnet bossed until last year. No politician, Economist Monnet has nevertheless made much political progress, claims the support of majorities in the six Parliaments concerned (France, West Germany, Italy, The Netherlands, Belgium, Luxembourg...
...regime's headaches have economic as well as political roots. In recent weeks Aramburu has given Argentina an unpalatable dose of austerity to try to clear up the economic mess inherited from Peron. The country's best-known economist, U.N. Official Raul Prebisch, reported that government interference under Peron had crippled economic development and kept the country's average per capita income almost stationary for ten years. He recommended stripping off many controls, e.g., an artificially high peso exchange rate, and taking anti-inflationary fiscal measures. A healthy if painful readjustment is taking place...
Another interesting analysis of the U.S. farm situation appears in a recent issue of the Economist. At the top are some 100,000 big "factories in the field." They produce 26% of all farm products. At the bottom are approximately 1,000,000 small marginal farmers (80% of them in the South), who produce only 8%. No matter what the Government's farm policy may be, this group has little prospect of improvement. Much of their land is unsuited for modern machinery. Their hope lies in industry, not farming. There are also some 1,700,000 small farms that...
...ECONOMIST...