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Inflationary recession is only the most imminent danger; there are longerrange, subtler perils too. Within many a capitalist country, the free market is being steadily hemmed in by the power of omnipresent government regulators, mass unions and giant corporations. Meanwhile, many intellectuals???and young people?contend that capitalism at best can build only a rich, not a just society. In January seven Nobel prizewinners, including Economists Gunnar Myrdal and Kenneth J. Arrow, signed a declaration condemning Western capitalism for bringing on a crisis by producing "primarily for corporate profit." They called for an intensive search for "alternatives to the prevailing...

Author: /time Magazine | Title: Can Capitalism Survive? | 7/14/1975 | See Source »

...down in elongated script, the memoirs were written in a classic prose Frenchmen had not seen in a long time?precise yet lyrical, stamped with honor, revealing the essential selflessness of a man dedicated to his nation's grandeur. On the strength of this literary achievement, France's intellectuals???who do so much to set their country's political tone?for the first time gave De Gaulle their wholehearted admiration.* And in the act of reducing his life to book form, the general reviewed his past mistakes, sketched out alternative plans of action that might have worked better. Says...

Author: /time Magazine | Title: FRANCE: Man of the Year | 1/5/1959 | See Source »

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