The World Economy: Big Winners

From the United Nations last week came the heartening report that despite the ravages of World War II, the industrial production of the free world has nearly tripled since 1938. The actual increase for the 25 years is a whopping 195%.

Because they started out from a comparatively small industrial base, the less developed countries naturally show the biggest percentage gains in output. Paced by Japan, whose output has climbed 300%, Asia has nearly quadrupled its mining and manufacturing production since 1938. Latin America has increased its production by 224%.

Yet, to some extent, Asia and Latin America have been running...

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