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About 1950 Russell suddenly became respectable. For his prolific output of technical and popular philosophy, social criticism and history, he was awarded the Nobel Prize for Literature and England's Order of Merit. Such respectability made the inveterate outsider in Russell uneasy. Occasionally, those bestowing the honors were uncomfortable too. As he was decorating the philosopher imp with the Order of Merit, King George euphemistically remarked...
...Reject prestige projects. Instead of constructing huge sports stadiums, sprawling airports and sparkling conference halls, poor countries could invest in so-called bottleneck-breaking programs: transportation and communication infrastructures that spur efficient industrial and agricultural output...
...hard-working population, by offering material rewards and improved living standards. South Korea coupled land reform, through which nearly all agricultural acreage became the property of its cultivators, with a policy that allowed food prices to rise enough so that farmers were encouraged to work hard to increase output. As a result, peasants earn more than urban factory workers-an average $139 per month, compared with $133 for factory workers-and produce more rice per acre than the industrious Japanese. In Taiwan, government-sponsored rural associations give each farmer access to credit, warehousing, marketing and procurement services and the latest...
...year opened, the recession that began in December 1973 had deepened into a nosedive that for a time fulfilled the worst predictions of the glummest pessimists. In the first three months of 1975, the nation's output of goods and services plunged at an annual rate of 11.4%, the steepest drop in 30 years. Unemployment, which began soaring at the end of 1974, continued bounding up to a peak of 9.2% last May-the highest since before Pearl Harbor. Fear spread that the nation might have started on a downward spiral into depression...
ITALY notes improvements in several key industries, notably autos, leading Fiat Chairman Giovanni Agnelli to say: "We could perhaps conclude that we are coming out of the most acute phase of the recession." But overall industrial output is down 12% from 1974, and 1.2 million workers are jobless; another 800,000 are on short time. Industrialists fear, too, that an improving climate may encourage wage demands and strikes that could abort the recovery...