Word: rodan
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Dates: during 1962-1962
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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...