Word: jacobsson
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Dates: during 1950-1959
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TRADE. Anderson's drive to get other industrial nations of the free world to lower their trade barriers against U.S. goods has already brought dramatic results. At the late September meeting of the World Bank-IMF, Sweden's Per Jacobsson, managing director of IMF, agreed with Anderson that the "new situation' called for a "fresh examination" of international economic policies. The IMF executive board urged member nations with adequate gold and dollar reserves to end discrimination against U.S. goods "with all feasible speed." A few days later, the meeting of the 37-nation General Agreement on Tariffs...
...JACOBSSON Managing Director...
...TIME erred. Director Jacobsson has called for "more effective application" of aid to underdeveloped countries "through sounder internal policies," but he has not said that those countries have had too much assistance. Of IDA, he has said "there are certain aspects many people are hesitant about," but he has not opposed...
Anderson got strong backing from Per Jacobsson, managing director of the International Monetary Fund, who charged that dollar restrictions are now being used as "protectionist devices" to keep down foreign competition. To Anderson's great satisfaction, Jacobsson virtually signed the death warrant for dollar discrimination by promising that the fund would act on a tougher policy "in the very near future," thus launching a major new step for a freer world trade...
Although he spends his time helping to manage the world's currencies, Jacobsson is still at heart an oldfashioned, classical economist who believes in free rather than planned economies. Born in 1894 in the village of Tanumon Sweden's west coast, he studied at the University of Uppsala. Says he: "I got my training in economics before 1914-before economics was turned upside down." He also got a lot of it from doing. From 1920 to 1928 he was a League of Nations economics consultant, trying to make the economies of eastern Europe work. After two years...