Word: economisters
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Dates: during 1950-1959
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...buildings, furnishings, etc. In so doing, U.S. industry passed a major milestone. For the first time since the big arms buildup of Korea, peacetime capital outlays passed military spending, despite an arms budget of $36 billion in 1956. It was a final answer to foreign critics such as Australian Economist Colin Clark, who had called the U.S. boom a depression-prone economy, propped up only by armament spending...
...manner suggested. The drama of Suez, which had roused patriotic support for him, was over. Now Britain faced the bleak penalties of the blocked canal, which were making their dragging weight felt in every British home and factory. Three influential journals-the Times, the Daily Telegraph and the Economist-greeted his return by wondering, almost with one voice, whether Eden was up to his job. Wrote the Daily Telegraph, the most Tory of them all: "The strain will become greater, not less. If Sir Anthony can bear it, and give the leadership for which the country is crying out, well...
Much more subtly, the Foreign Office stylists reflected the same line as they maneuvered overtly and covertly around the world. In Manhattan, British Foreign Secretary Selwyn Lloyd held confidential briefings for selected British, European and U.S. diplomatic correspondents (periodicals critical of the Suez policy, such as the Economist and the Observer, were not invited), in which he suggested that 1) the U.S. appeared to be willing to throw down the British alliance for the Arab-Asians; 2) British diplomats were having trouble getting to see U.S. diplomats, 3) the U.S. was threatening the British economy by not sending over...
...upturn? A "decisive" factor, explained Agriculture's Economist Frederick V. Waugh, was "government programs," e.g., the Administration-sponsored soil bank, which last September began to pay farmers to withdraw 12 million acres from production and put them to soil-conserving measures. The figures bore him out: of the 1956 rise-$400 million over last year's $11.3 billion-some $250 million is from soil-bank payments. Next year, when up to 45 million acres are to be set aside, the payments will be that much higher, and so should be the cut in the surplus. The hope...
Said Foreign Secretary Selwyn Lloyd: "The partners should on occasion be able to act unilaterally and according to the dictates of their best judgment, without jeopardizing the firm foundations of their understanding." Said the London Economist: "Britain's proper attitude towards the U.S. is the attitude that Australia has long maintained towards Britain. It is an attitude of blasphemous private candor about most matters and about awkward Foreign Secretaries, but of sufficient loyalty to allow any American leader to feel confident that when really big issues arise, Britain will never deceive...