Word: rostow
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...Rostow Reconsidered...
Much of the current non-technical literature of economic development suffers from the same fault: inability to impress clarity on a very confused situation. Some writers, like W. W. Rostow of M.I.T., have tried to be too clear. In his Stages of Economic Growth, Rostow attempts to provide a useful framework by dividing all societies into five stages of development: traditional societies, the preconditions for take-off, the take-off, maturity, and the age of high-mass consumption. If nations such as Peru and Pakistan can fulfill the right pre-conditions, Rostow says, by allocating resources to the right sectors...
Belgium is undoubtedly in the most trying position of anyone in this business, and she is evidently, feeling the pinch. W. W. Rostow's thesis that a colonial mother country's problem is not so much to colonize as it is to clear out of its colonies is justifying itself in a manner intolerable to Premier Eyskens. The Premier regards Lumumba as the worst type of new nationalist leader, and Tshombe as a nice, cooperative sort of chap whose policies seem likely to keep everyone perfectly tranquil...
...this change all to the good? Not at all, says Dean Rostow. It has put the corporation in danger of forgetting that its real business is making money for its stockholders. While not sweeping away legitimate social advances, he gives the back of his hand to the idea that a corporation has any other prime duties, calls it "bewildering balderdash." For example, despite all the current calls for corporate statesmanship in price setting, he insists that prices should not be set on the basis of public or political policy, but on the needs of the corporation and what the market...
...their money is used. Large stockholders, who might wield power, often dodge the issue. If dissatisfied, they simply sell out and put their money elsewhere. The one man who is still a threat to unbridled corporate power is the raider. Though he is now considered "almost illegal," says Dean Rostow, he performs a useful service by getting rid of deadhead management, or even by carrying on a fight that frightens management into reform. One suggestion for restoring the stockholders' voice: trustees to vote their shares, watch out for their interests...