ONE OF the biggest barriers in the way of foreign investment in the world's underdeveloped countries is not to be found in the tariff regulations or the laws governing the convertibility of currency. It exists instead in the minds and emotions of those who need foreign investment most. But because they often tend to equate it with 19th century-style colonialism, they are reluctant to accept it.

This point of view, amounting in some instances almost to a sort of folklore, has come to be known as the anti-capitalist attitude. In San Francisco last week, in a succession of thoughtful, analytical speeches, representatives...

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