BRAZIL: Enlightened Capitalism

Brazilians got their first look at a grandiose project that might alter the shape of postwar capitalism. In Rio last week Nelson Rockefeller, optimistic, zealous salesman of Good Neighborliness, onetime U.S. Assistant Secretary of State for Latin American Affairs, took the wraps off a brand-new idea called the American International Association for Economic and Social Development.

The ultimate aim of the plan, for months secretly abrewing among Rockefeller's high-powered brain-trusters: by mixing business (which would be handled by a special corporation) and philanthropy, to expand other countries' production, especially of food, and thus to increase their capacity to buy what the...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!