Word: nationalizing
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Dates: during 1950-1959
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...dropped in to mend fences; and East Germany's Otto Grotewohl made a formal call on Nasser. Afterwards Grotewohl announced that the two countries, while not generally recognizing one another, would establish "consular relations." West Germany, true to its insistence that it will break off relations with any nation that recognizes Communist East Germany, sent its ambassador over to ask Nasser what was going on. Nasser's aides denied that the boss had promised East Germany anything of the kind...
...more platform for anticolonialist tirades-European colonial powers had opposed setting up a U.N. commission for Africa like those already in existence for Asia, Europe and Latin America. Not until last spring, and after U.S. prompting, did the U.N. finally establish the E.G.A. headquarters in Ethiopia, oldest independent nation on the continent. Membership: six European nations, nine independent African countries, and associates from colonial and trust territories. In a continent with a bewildering array of problems and a disheartening lack of experience, the commission hopes to help raise living standards by pooling economic information and skill...
...should have the ringing rhetoric of a tent-meeting preacher and the money-making genius of a loan shark, but first of all, a college president should be a scholar. Last week the heads of two of the nation's most prestigious women's educational institutions gave evidence that whatever he does, a scholar is not necessarily happy as a college president. The two presidents, both of whom resigned...
Harold Taylor of Sarah Lawrence, who in 1945 rode out of the West (the philosophy department of the University of Wisconsin) and, Lochinvar-like, captured the hearts of blue-jeaned undergraduates as the nation's youngest (30) college president. Handsome Harold Taylor skied, played tennis, taught classes at Manhattan's New School in his first years at Sarah Lawrence, throughout his term tossed off opinions ("It's important that someone raise some hell with philosophy") as John D. Rockefeller Sr. passed out dimes. He ran his college well, but had to give up teaching as administrative duties...
Economists have long known that the gross national product, the nation's No. 1 economic growth indicator, has a serious flaw. It does not allow for inflation. When prices and production are both swooping up, the G.N.P. greatly overstates the rate of growth of the U.S. economy. When production sags, it understates the drop, since prices tend to hold up. To counteract these price distortions, the Commerce Department brought out a new indicator. Henceforth, along with the regular quarterly G.N.P. expressed in dollars of current value, the department will publish a G.N.P. showing what the actual change would have...