ECONOMICS: Cuckoo Clocks & Other Things

Last week fast-moving ECAdministrator Paul Hoffman made a fast trip to Europe to try to stop the dismantlement and removal—for reparations—of industrial plants in Western Germany. Eastbound, he rode on the presidential plane with Secretary of State Marshall. ("It was," said Hoffman, "the highest-level hitchhike in history.") Next day he conferred with sprightly Foreign Minister Schuman in Paris; the next, with tired, grumpy Foreign Minister Bevin in London; and a day and a half later, he was back in Washington, holding a press conference. He was natty in a dark blue suit...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!