Word: vargas
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Dates: during 1940-1949
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...stepped up the pace of its proof that a depression in the U.S. is just around the corner. With a little imagination, Russian newspaper readers could already see the nefarious U.S. capitalists selling apples on drafty street corners. Among Russia's bigwigs only 70-year-old Eugene Varga, once considered the Soviet Union's foremost economist, did not join the chorus that was sending the U.S. to the wringer...
Three years ago Hungarian-born Eugene Varga wrote a book which, although violently hostile towards America and Britain, held that there was no likelihood of a depression in the Western countries before 1955. About a year later, the Politburo realized what Varga was saying. He had not only contradicted Marx, but blasted the premises of Soviet foreign policy. Party henchmen went to work (TIME, Feb. 2, 1948). He was dismissed from his job as head of the Academy of Science's Institute of World Economics and World Politics. He was told to recant. Instead, he pluckily announced: "I cannot...
Then his inquisitors got tougher. His former fellow academician, K. V. Ostrovityanov, warned: "You must know from the history of our party what grave consequences result from stubborn insistence on one's own errors . . ." Finally, last week, like hundreds of other Soviet intellectuals, Varga decided, things being as they are, it was time to retract. Admitting that he had not "acted cleverly," he dutifully sent in his recantation, for the current issue of Questions of Economics. It sounded familiar-almost as though the Russians now had printed forms for these occasions. Wrote Varga: "I formed a whole chain...
...next step in Varga's conversion: he will write a new book correcting all the vicious mistakes of the first...
After cranking the two weights up, a job he describes as "good exercise even for an old fells," Jimmy walks over to the April, 1940 Varga on which he keeps his oiling schedule...