Business: Score One for Capitalism

Its tea off, Sri Lanka gets teed off at socialist controls

Around the world, the siren song of socialism appears to be losing its lure. Countries as diverse as Britain and France, Peru and Algeria are moving away from the creed of nationalization and toward freer market economics. None has shifted quite so far, so quickly, as Sri Lanka, the verdant island nation off the coast of India that the world still knows as Ceylon. Reports TIME Correspondent Ross H. Munro:

Sri Lanka is awakening from a long socialist slumber. The severe shortages of such necessities as cloth, soap and matches that...

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