Word: publically
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Dates: during 1950-1959
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...quarter of a century ascetic Premier Antonio de Oliveira Salazar has slaved 18 hours a day, six days a week, giving the Portuguese the sternly ordered rule he thinks best for them. The least the little economics professor expected in return was public admiration, and for a surprisingly long time for a strongman, he got it. But though his budgets are tidily balanced, his people are still poor, and increasingly fed up with the lack of freedom and the harsh police methods of Salazar's paternal dictatorship. Portugal's money is stronger than the dollar, and prices...
Concentration on breaking latifundista political power often obscures the fact that a country may have excellent virgin farmlands available. Ecuador spent its public funds not for expropriating land but for building 1,600 miles of roads to open up the hot coastal plains. A thousand persons still own 80% of the cool Andean valleys, but peasants on free, 124-acre coastal plots are enjoying a boom that raised agricultural income 43% in seven years...
...founded by the late Christian Dior will haul its entire summer collection to Moscow early in June. The House of Dior, in a cultural exposition unparalleled since the days of the czars, will be presented to Soviet bigwigs and Moscow's diplomatic corps, then move into a big public hall, play to proletarians (admission: $3 top) for six days. Asked by a Dior representative if the group could bring along the normal retinue of aides, hairdressers and some 120 models, a Soviet spokesman responded with a warm bear hug: "Take everything along! Take even a priest if you wish...
M.I.T.'s good judgment laid the base for the public's extraordinary confidence in the entire industry. When M.I.T. was founded in 1924, it startled the financial world with a brand new idea. Until then, the investment field had been dominated by "closed-end" investment companies; they sold a specific number of their own shares that were traded in the open market, concentrated on quick profits. M.I.T. shunned the lure of the fast profit, concentrated on long-term gains. More important, it threw out the closed-end idea by continually selling shares to anyone who wanted...
M.I.T. helped put an end to all that. Despite howls from the financial world, it opened its books and portfolio of stocks to the public, setting the pattern for the "fishbowl" policy under which the whole fund industry now operates. Instead of fighting New Deal legislation aimed at regulating investment-company practices, it recognized the need for regulation, helped the New Deal frame the laws. So similar were M.I.T.'s bylaws to the Investment Company Act of 1940, which laid the ground rules for the funds, that M.I.T. had to change only a few commas...