The Future of the Dollar
U.S. Financial Power Depends on Washington, Not Beijing
AMONG many pressing contemporary problems are two which receive much attention but without adequate recognition of the possibility that they may be related. These problems are, one, the insufficient economic growth of the underdeveloped countries of the free world, and, two, the agricultural surpluses of the free world, primarily those in the United States. Approached separately, they have remained insoluble; but a new coördinated approach might help to solve both. Aid to underdeveloped countries in the form of agricultural surpluses might enable them to progress economically at an even faster rate than would be possible under the forced-draft methods of the Russians and Chinese; and at the same time the crisis of agricultural surpluses in America and other countries of the free world would be alleviated.
In the early stages of economic development large expenditures are necessary to provide basic public facilities and services such as roads, bridges,