WESTERN EUROPE: Present Prosperity

Out of Geneva's Palais des Nations last week came one of those statistics-studded reports that make the back pages of newspapers but really tell an electrifying story. The news is that Western Europe—not just one country, but all of it—is booming. The U.N.'s Economic Commission for Europe concluded last week that the upturn in European production, "which began in some countries in 1953, is becoming general." Unemployment is dwindling fast in most countries, and Western Europe's gross national product is growing at the rate of 10% a year, a faster rate of...

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