Business: The Civilized Way

Ghana's President Kwame Nkrumah presents two faces when he deals with foreign investors. With one face he encourages them to come in and help Ghana grow; with the other he winks at his trusted lieutenants, who talk darkly of nationalizing foreign enterprises. A favorite target has been the seven British-owned gold mines. From exports of $28 million in gold a year, the country gets a tenth of its income.

Last summer Nkrumah's government passed a law granting a 14¢-a-day wage increase to gold miners. This wiped out the benefits of a subsidy the government was giving the shakier mines. The British owners...

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