Word: investments
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Dates: during 1970-1979
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That no real benefits from the elitist route to development ever accrued to most Pakistanis can easily be demonstrated by examining both the statistics on inequality cited previously and the recent history of Pakistan. The tiny class of super-rich preferred to consume conspicuously rather than invest their windfall profits. (Luxury housing accounts for about 10 per cent of measured private investment.) The growth of this economic oligarchy was complemented by the concurrent growth of a powerful military dictatorship, centralized in West Pakistan and supplied with American arms. After the 1965 Indo-Pakistani War, the economic-military elite grew increasingly...
...High Consumption and Low Saving...For lack of financial assets in which to invest, the public has had to buy consumers goods or services...
...payments deficit is much more directly a result of the Viet Nam War than of the long struggle to contain Communism in Europe. In addition, they note, part of the dollar outflow was caused by U.S. inflation, which made it more profitable for American businessmen and bankers to invest in European projects than in opportunities at home. "Nixon's campaign is not so much economic as patriotic," says the chairman of a large Belgian bank. "Patriotism and clarity of thought are almost always incompatible...
Many major companies, including General Electric, Mattel Toys, Bristol-Myers and Xerox, are gearing up to invest heavily in feature films. Quaker Oats anted up the entire $2 million for the musical Willy Wonka and the Chocolate Factory, and is now ready to plow its considerable profits back into new films. Wells, Rich, Greene, the advertising agency, will soon complete its first film, Dirty Little Billy, an irreverent rehash of the Billy the Kid legend...
...then, should anyone accused of supplying weapons that were ultimately used for the murder at the courthouse not expect the same justice? Since Angela Davis was a fugitive for two months after the killings, it hardly seems unreasonable to deny her bail now. Her partisans have tried to invest her forthcoming trial with an exclusively political meaning. But if a political prisoner is one jailed solely for his ideological opinions, then it seems likely that neither Angela Davis nor George Jackson rates the label political prisoner...