Word: ownership
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Dates: during 1950-1959
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What appears from this and related questions is a separation of ethics from religion. Originally the foundation of moral systems, religion, to these respondents at least, has lost the claim of sole ownership to the ethical beliefs of the secular society. Asked whether they "believe that correct ethical principles are grounded on religious faith, and that a genuine knowledge of man's moral obligations necessarily involves a belief in God," only 28 per cent of those believing in some Divine presence replied in the affirmative. Seventy-nine per cent of the believers felt that the ethical opinions of atheists...
...About Mutuals. The boom in stock ownership in Britain was reflected in many a nation around the world, showed a profound change in the savings habits of people with small incomes. Before, if they saved at all, they put their money under the mattress, or in government securities or postal savings. Today, millions who once looked on stock ownership as the pastime of the rich, and stock exchanges as sinister cabals against the common man, are eagerly investing in capitalism. One of the easiest ways, as in the U.S., is through mutual funds...
...swift spread of stock ownership is even more striking on the Continent. In West Germany, the Adenauer government is plowing ahead with its plan to "reprivatize" a $1 billion industrial empire inherited from the Nazis. Last spring the government sold the giant Preussag mining combine to 216,000 new German stockholders limited to annual incomes of $3,800 or less. In one sweep of a pen, the total number of German stockholders was increased by a third, to around 800,000. Determined to have a competitive private-enterprise economy, the government is now planning to sell off the great Volkswagen...
...Alibi. But the occasion had left a bad taste all around. Since then, newspapers have taken to criticizing Nehru with a new bluntness; old opponents use stronger language. Seemingly oblivious, Nehru in January rammed through a series of resolutions to socialize Indian agriculture, calling for a limit on land ownership and the formation of cooperatives in India's 600,000 villages within three years (an impossible timetable that would require the founding of 500 cooperatives...
Helping the bull markets is the fact that governments publicly encourage share ownership by the little man. The West German government has begun to sell shares of state-held companies to middle-class investors in a bold step toward denationalization (TiME. April 13). But markets are so thin that a little buying can send a stock to giddy heights. Four-fifths of West German corporate stock, for example, are locked in institutional portfolios. Companies are reluctant to float more because of heavy taxes. Daimler-Benz has 93% of its stock in the hands of institutions and other companies...