Word: statistical
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Dates: during 1950-1959
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...well-fed voters of little Uruguay (pop. 2.7 million) last week threw out the prolabor, welfare-statist Colorado Party that has ruled the country without interruption for 93 long years. Into power, by a vote of 414,000 to 325,000, went the rightist Nationals...
...strong ideas about free enterprise and how to help it along. A peasant's son, La Cavera started out with a small cement plant, expanded it, then set out to see how U.S. industry operated. He returned from the U.S. convinced that Sicily should reject Italy's statist economic policy and instead open the doors to private investment. Says he: "Government has neither the means nor the ability to remake Sicily. But it must act to give private enterprise freedom and encouragement...
...private responsibility and private capital which you represent are the motors of economic progress. The economic growth which you generate is vital to the future of the whole free world. In many nations, the pattern of economic development is being shaped for a century ahead. If this pattern is statist, then human freedom will be the loser...
...omnipresent state handles most of the nation's banking and insurance, monopolizes coal imports, operates the railroads, the power plants, the telephone system, a huge slaughterhouse, liquor distilleries, oil refineries, fisheries, cement plants, a repertory theater, an ambulance service and a string of low-cost restaurants. This statist structure is costly in both obvious and insidious ways. Uruguay suffers from Latin America's severest case of bureaucratic bloat, with 150,000 civil servants out of a labor force of 1,000,000. Government deficits pile up year after year. And under the state's blanket benevolence, incentive...
...traditional pro-capitalist answers the statist by asserting that the essential limitation upon corporate power is exercised by what "economists refer to as the 'judgment of the market place' . . . which was assumed to be a powerful controlling factor. By declining to provide capital, it could, in theory, check overexpansion, could favor enterprises which the country needed most . . ." But Berle does not believe that the judgment of the market place plays this part in contemporary U.S. capitalism. The modern corporation is strong enough to ignore the judgment of the market. The spectacular fact is that most...