Miscellaneous - This Day That Age   

dated April 5, 1961: Need for positive approach

The U.S. ambassador-designate to India, Prof. Galbraith, who is one of the foremost economists of our times, has stressed the need for a more positive approach to the whole problem of U.S. economic aid to other countries in an article in the current issue of “Foreign Affairs.” We reproduce below the first part of the article which will be published in three parts.

It is now nearly 12 years since the provision of economic assistance to other countries on a regular and organised basis became an established feature of American foreign policy. Such assistance had previously been offered to Latin American countries and during and after the war to the devastated and distressed countries of Europe and Asia. With the promulgation of the Point IV offer in President Truman's inaugural message of 1949, the provision of assistance to other countries for their economic development lost its character of emergency relief. It became, instead, a settled arrangement for helping the less fortunate countries of the world to escape from poverty and to place themselves on a path to self-sustaining growth. The amounts being spent, if not huge, have at least become considerable. From the beginning, foreign aid has been sharply controversial. It has an aspect of goodwill and compassion that naturally arouses grave suspicion. Liberals, reacting to this, come automatically to its defence. Any criticism has been discrediting the policy. If results are not satisfactory, it is because we are not spending enough. The normal liberal formula for improving foreign aid is to spend about 25 per cent more. So, a much more careful view of foreign aid is essential.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Cartoonscape
The Hindu Crossword 10120
Solution to puzzle 10119
Rewarded by the Goddess
dated April 5, 1961: Need for positive approach
dated April 5, 1961: IIT Madras
Weather

Copyright © 2011, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu