Word: economists
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Dates: during 1970-1979
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When the award to Sakharov was announced in October, the Soviet press dismissed the Nobel Prize as "a cold war weapon" and denounced the five-member Nobel committee for "political speculating." Still, the Kremlin last week dispatched Economist Leonid Kantorovich to collect his own Nobel Prize in Stockholm (where all but the peace awards are distributed), and sent five former Russian winners as well...
...export earnings painfully exposes many poor countries to erratic swings in the price of raw materials. Still, while trade relations are not always equitable, it is highly debatable whether the First World has really been using trade to exploit the developing countries. If that were so, notes British Economist P.T. Bauer, then nations like Taiwan, Singapore, Brazil and South Korea, which are the most involved in extensive foreign trade, would not have become the most prosperous LDCs. Bauer rightly points out that the poorest states are "those with the fewest or no external contacts...
...should the Third World redress these grievances, real and imagined? There are many solutions, offered with varying degrees of reason and logic by spokesmen for poor nations, but they all come down to one. As Economist Samuel Parmar sums it up: "The developed nations must accept a new lifestyle." At the U.N., the Group of 77 has proposed that the First World double or triple its financial-aid contributions. Such capital transfers, moreover, should no longer be voluntary, but mandated-perhaps by a tax on commodities. Under this proposed "new order," national currencies, such as the U.S. dollar and German...
...others, while a few, including Southern Yemen and Niger, have actually had a negative rate of growth. In many underdeveloped countries, moreover, programs that have achieved targeted rates of growth have failed to raise living standards or generate savings because the gains have been offset by population growth. Swiss Economist Paul Bairoch points out that the pace of agricultural growth in the developing world has compared favorably with that of the First World in its period of economic takeoff during the 19th century. "The real difference between the performance of the two," stresses Bairoch, "is caused by the growth...
...Limit population growth. The poor countries must recognize that they are-as U.S. Economist Rawle Farley puts it-in an "anxious race between demography and development." In nearly all the developing nations, the consumption demands of increased population are undermining even the best strategies for economic development. Egypt's Aswan High Dam, for instance, has added 25% to that country's arable land; yet, between 1955 when plans for the dam were conceived and 1970 when the project was completed, the population of the country swelled a staggering 50%, to more than 30 million...