Word: rodan
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Dates: during 1960-1969
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...other development missions in the fifties (Mason, Galbraith, David Bell). By the late fifties the study of development economics centered in the seminar organized at Harvard by Galbraith, with the later collaboration of Mason and Bell, and in the work carried on by Max Millikan, Rostow, P.N. Rosenstein-Rodan and others at the MIT Center for International Studies...
Some of the world's most influential thinkers and doers are U.S.-based. But because the big and free U.S. economy has little want or need for central-development plans, these economists usually exercise their greatest influence in foreign countries. M.I.T.'s highly regarded Paul Rosenstein-Rodan helped draw up the industry-priming development scheme for southern Italy (main feature: tax breaks for new industries), and is a regular consultant to the Alliance for Progress. Students around the world learn the fundamentals of economics from Paul Samuelson, another M.I.T. professor, whose textbook, Economics, is a standard...
Paul N. Rosenstein-Rodan, Professor of Economics at M.I.T., suggested some of the reasons why progress in the Alliance's first year--even considering that economic development is a slow process has been "infinitesimal...
After all, Rosenstein-Rodan said smiling, Latin America "is passing through a phase where it has to find its own national identity"; it finds it difficult to accept a complete shift in U.S. foreign economic policy after traditionally using the U.S. as an "object of common hatred." To the man in the street, partly because of an "unholy" agreement between Communists and conservatives, the Alliance is completely "unknown...
Eventually, Rosenstein-Rodan went on, the U.S. accepted the nation of such an Alliance at Punta del Este--with the difference in basic thinking that change in social conditions is a precondition of development. The economist approved of this new requirement, but added that trying to promote equal distribution of income naturally costs far more and arouses more opposition than simply trying to make income grow...