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New Economic Policies for the West

Courtesy Reuters

THE fact that foreign policy was a dominant issue in the 1960 Presidential election is probably evidence enough that our foreign economic policies should be critically reëxamined, particularly as they apply to the developing countries. The gap between the economic philosophies of the developed and underdeveloped countries seems to be widening and in most of Asia, Africa and Latin America the expectation of rapid economic development has not been fulfilled. The fact that some of the most dedicated and optimistic practitioners of development call for a large increase in economic aid to achieve an average increase in income of only $2 to $6 per head per year in the developing countries is evidence not only of the intractability of the problem but also of a desperate need for drastic changes in our thinking.

A French economist who had been through the best graduate schools both in his own country and in the

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