Word: pez
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Candidate of Stability. López Mateos' record of efficiency in office made him a strong contender for the presidency in 1958. In choosing him, Ruiz Cortines followed the tradition that lets each President pick the government party's candidate, provided that he is not objectionable to any ex-President. A whoop-it-up campaign this year introduced López Mateos to the country, and as P.R.I.'s candidate he was easily elected over a brash and helpless opponent...
Rational Nationalism. López Mateos' main problem in keeping the Mexican boom going is that of any nation with mixed-capital enterprise. Which comes first-enterprise or the welfare state? An example is Pemex, Mexico's government oil company. Subsidized Pemex proudly proclaims itself "in the service of the nation," fulfills the proclamation by keeping prices of its products artificially low and supporting a welter of government social services. As a result, it makes little profit to plow back into development and into the establishment of a much-needed petrochemical industry...
Lately, many Mexicans have been demanding that Pemex be run as a business, with normal profits for reinvestment in development. But López Mateos is almost forced by his natural nationalistic inclination to keep the state paramount and Pemex its old, slow-moving self. He might also be inclined...
...fortnight ago, relaxing in his book-lined library overlooking the swimming pool, López Mateos summed up the problem as he sees it: "Mexico must create national wealth from capital to make jobs for an additional 1,000,000 Mexicans a year. Mexican capital alone-private and government-has not been able to develop our potential. With the help of outside capital, perhaps this can be achieved...
...give López Mateos' 1,000,000 new Mexicans houses and food, to raise the nation's standards of living, to lift members of the lower class into a better life at the same rate as recent years, Mexico must create 1,650 new jobs every day. In this task Adolfo López Mateos will probably cut close to the pattern of welfare-state capitalism that has given his country its great splurge of growth...