Word: gross
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Dates: during 1950-1959
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...four years of Marshall Planning, Western Europe's gross national product has jumped from a sickly $133 billion in 1947 to a convalescent $164 billion in 1950. But little of this recovery Has yet benefited European workers and consumers. No sooner did shoes and bathtubs begin to flow into Europe than Soviet aggression stirred rearmament talk. Disgruntled Europeans feared that once again they would be cheated of butter to pay for guns...
Will this ambitious program (which ECA hopes to finance out of its regular $2 billion budget) work? ECA thinks it may, if Europeans will let it. Western Europe could raise its gross national product by $100 billion, said Foster. "Accomplished in ten years, this would be a masterful job. Done in five, it would be a near miracle-but possible, nonetheless...
Automakers are not alone in their troubles. Even the steel companies, with orders at a peak, are hit. Bethlehem Steel's gross for the first half reached a spectacular $876 million, but a doubled tax load dragged its net down 14% to $49 million. Only by boosting its sales 20% did Inland Steel add a modest 6% to its net ($19 million). Of a dozen reporting electric utility companies, eleven had higher revenues, but four had lower nets than...
...Tuesday night, Fleischmann, making his first public appearance in his dual role as head of both production offices, analyzed the necessity of materials control for a successful defense program. He said that controls must extend beyond the 20 percent of the gross national product taken by the mobilization program...
Ambassador Gross strongly defended the United Nations, and declared: "The partners in the free world are those people who support the principles of the United Nations Charter and work loyally to carry out those principles...