BUSINESS ABROAD: Schumania's Year

In Switzerland last week, on a well-earned vacation, France's peppery little Jean Monnet, managing director and original creator of the Schuman Plan, ticked off the gains and setbacks since Western Europe agreed to pool its coal and steel resources just one year ago. The most obvious achievement was that the huge, $6 billion coal and steel industry—which accounts for 15% of the total industrial production of France, Germany, Italy and the Benelux nations, and provides work for one out of every ten of their workers —had actually been brought under a single command. By so doing, the plan had:...

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