Word: exporters
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...capitalism's superior productivity is not solely a matter of electric toothbrushes and throwaway soft-drink bottles: the system also does better at filling basic human needs like food. Farmers in the capitalist U.S., Canada and Australia grow enough not only to feed their own peoples but also to export huge surpluses. In contrast, the Soviet Union?although 30% of its workers labor on its vast farmlands?has to import food. So does India, which permits private farming but insists out of socialist principle that the produce be sold at unrealistically low prices...
Corn should stand knee-high in most Midwest fields by July 4. Instead of rejoicing, though, farmers are nervously wondering whether they will be able to find markets for all the corn and grain from the huge harvests expected this year. Normally, 25% of all U.S. grain is exported to foreign buyers, who pay about $10 billion a year. Now that giant market is being threatened by a scandal involving: 1) bribery and fraud in federally licensed grain-inspection procedures, 2) suspected skimming of grain off export cargoes by the operators of grain elevators, and 3) laxity by the Department...
...expects the scandal to stop there. Operators of grain elevators are suspected of holding back some grain destined for export, selling it to domestic buyers, and covering the shortages by dumping lower grades, broken kernels or rye into the grain shipments bound for foreigners...
Rodent Enriched. The Department of Agriculture has much to answer for. According to a report written by the department's Office of Audit in 1973 and made public last week, the department's Grain Division once held back a plan to determine uniformity in export shiploads because of the objections of a single trade organization, whose members included large exporting companies. In addition, the report said grain inspectors often failed to notify the Food and Drug Administration of "deleterious substances" in grain destined for human consumption. Among them: poisonous mercury-treated kernels, rodent excreta and insect-damaged kernels...
...jobless rates down). But they are hardly sufficient to bring back the halcyon era of double-digit G.N.P. growth that Japan enjoyed before it was rocked by twin economic shocks in the early 1970s. Dollar devaluations and yen revaluations raised prices of Japanese goods abroad and cut into export earnings; that plus quintupled oil prices touched off the inflationary explosion...