UN General Assembly
1952

The lack of vision in private enterprise has been manifest of late in certain cases which have in fact developed into international problems which the community of nations is now trying to solve. Private enterprise has not made sufficient response to the calls of the world of today and it is because of this failing that we have to adopt the programmes to which I referred. Nevertheless, in Spite of all these good and sincere proposals, utter poverty still prevails as an unfortunate reality in vast regions of the world. We are in fact witnessing a process whereby a large proportion of the world’s savings is being devoted to the production of war materials, to the great detriment of the programmes for economic development.