THE RECOVERY: A Call for Help

Should the U.S., West Germany and Japan do more to help the global economy snap back faster from the recession? Emphatically yes, says H. Johannes Witteveen, the Dutch economist who is managing director of the International Monetary Fund. At the IMF's annual meeting of finance ministers in Washington last week, Witteveen suggested that the three leading industrial powers were all but dutybound to pursue more stimulative economic policies in order to "lead the world to recovery." Witteveen's argument drew prompt rebuttals from all three nations. Said U.S. Treasury Secretary William Simon: "We...

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