The Capitalist Challenge: PATHS OF PROGRESS

BUSINESSMEN in the U.S. are traditionally leery of government interference in the economy. Nations that have shed colonial rule tend to be equally suspicious of capitalism. Thus, a prime problem of the San Francisco conference was: Where should governments leave off and private enterprise take over in developing backward economies?

World Bank President Eugene Black spoke for most U.S. businessmen when he criticized governments for "stifling" private enterprise through state ownership of productive industries. Several Asians contended that government financing was essential for key industries that do not readily attract private investment. But...

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