Word: socialist
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Dates: during 1950-1959
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When Kansas Millionaire Bill Graham tried to spark a brush fire for capitalism in socialist-minded India last summer (TIME, Aug. 12), the government poured on cold water. Finance Minister T. T. Krishnamachari and others refused to see him. But last week Graham's dream of financing capital-starved entrepreneurs ("The small guy who's on the ball") and making a profit to boot had become too important to ignore. When Graham landed in India with funds raised from free-enterprising Americans, Pandit Jawaharlal Nehru himself sat down with the tireless enterpriser for a half-hour...
...embassy got them off the hook by warning them that they could lose U.S. citizenship if they voted. Also troubled by the one-man election: university students, particularly in Roman Catholic schools, where resentment ran high against the jailing, ever since September, of Rafael Caldera, once the Christian Socialist presidential hopeful. But after a spate of student demonstrations a fortnight ago, most colleges are temporarily closed. "The agitators can only stir up students," said Pedro Estrada, chief of the Seguridad Nacional. "They cannot stir up the workers, because everyone is making so much money...
Premier Djuanda, a Socialist non-party man, asked Parliament to swear in Speaker Sartono, a 56-year-old moderate Nationalist, as acting president, but a government spokesman indicated the Premier and General Nasutin actually will run things...
...Socialist bias of Nehru's political philosophy, which expressed itself two months ago in a tax on capital assets, discourages private industry, foreign and domestic. Said leading Indian Industrialist G. D. Birla: "As things stand now, there is not the slightest possibility of raising any sizable capital in India...
...Socialist ministers threatened to pull out of the coalition Cabinet charging the government was victimizing the workers. They were up in arms over Gaillard's austerity plan to slash food subsidies and thus send up retail prices. The Premier put the plan forward in a move to save 90 billion francs (214 million dollars) for the government...