Word: economisters
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...madman, Hitler the monster. Memoirs of a Confidant introduces us to Hitler the misunderstood idealist whose vision of peace and prosperity was distorted by his gangster lieutenants. The author of this benign nonsense was Otto Wagener, a forgotten Nazi who served as storm trooper chief of staff and party economist until his career was derailed by Rival Hermann Göring. According to the book's editor, Yale History Professor Henry Ashby Turner Jr., Wagener was lucky to escape Göring's blood purge of June 30, 1934. He spent the balance of the decade minding his own business in Saxony...
...universities, and the influx of money caused bank assets to grow 20% a year. Newly prosperous gulf families built banks as status symbols to impress their neighbors. The United Arab Emirates, which has a population of 1.3 million, had 53 banks in operation last year. Said an American economist who has studied the financial development of the Middle East: "Nowhere else in the world has a rush of sudden wealth almost instantly produced such a number of family banks as happened in the United Arab Emirates...
...crisis, which began more than a year before he declared martial law in December 1981, is ending. He can now devote himself to repairing the damage done by the defection of an estimated 1 million Poles from party rolls in the past five years. By promoting Messner, 56, an economist, to succeed him as Premier, he also underscored his intention to rebuild Poland's shattered economy while distancing himself from difficulties ahead. Noted one Western diplomat based in Poland: "He can now blame someone else when things get worse." NICARAGUA Friends in Need, Friends Indeed...
...government is now stimulating the economy in hopes that increased demand by Korean consumers will make up for lost exports. Public spending is up about 10% this year, and the money supply is expanding at a 15% clip, compared with 10% in 1984. Economist Suh forecast that the government's generosity will help boost the South Korean growth rate slightly, to 6.2%, next year...
...Chinese outlook, TIME's Pacific Board invited its first guest economist from the People's Republic: Huan Xiang, the director general of Peking's Center for International Studies. Huan reported that Deng's reforms have been a tonic for the Chinese economy, but its runaway 12% growth rate is a bit more than the country can handle. The quality of many manufactured goods is suffering, and inflation is a disturbing 8%. A flood of imports has created a record trade deficit of more than $4 billion this year. Said Huan: "We have been on a spree of building too much...