EXPORTING ENTERPRIZE: A New Way to Dispense Foreign Aid

EXPORTING ENTERPRISE

EVER since peacetime foreign aid began, one of its stated objectives has been to promote private free enterprise abroad. But, until a fortnight ago, the promotion of free enterprise got comparatively little public attention. Then outgoing International Cooperation Administrator John Baker Hollister issued a memo to overseas staffers notifying them that henceforth the U.S. "will normally not be prepared to finance publicly owned industrial and extractive enterprises." Lower-level career people in the State Department promptly planted stories in the metropolitan press accusing Hollister of distorting State Department policy, of trying to cram free enterprise down the throats of foreign governments...

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