The Capitalist Challenge: THE CAPITALIST MAGNA CARTA

HERMANN JOSEF ABS, director of the powerful Deutsche Bank of Frankfurt and a personal adviser to Germany's Economic Minister Ludwig Erhard (see cover), is generally recognized as one of the most influential spokesmen for the dynamic and prosperous German Federal Republic. In San Francisco, where he celebrated his 56th birthday last week during the I.I.D.C. conference, stocky Hermann Abs also emerged as an incisive spokesman for Western capitalism everywhere.

It was Hermann Abs, in a speech titled "The Safety of Capital," who produced the most widely applauded concrete proposal of the conference. What Abs proposed is the creation of an International...

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