During the recent nineteen-year period from 1950 to 1969, corporate profits, both before and after taxes, formed a shrinking proportion of the nation… - Neil H. Jacoby

Whenever any thought or idea or moral imperative is transferred from one society to another an important question is whether that which is transferred is freely sought by the recipient or is, to one degree or another, forced down his throat. Does the transference occur freely through reading or the reports of visitors to other lands, i.e., does it occur as a voluntary importation by one society of what another has developed or found, or does it occur through the coercion of the bayonet or propaganda?

After World War II, foreign government levies on the incomes of private oil companies were progressively and substantially increased. This was true of both royalty and income tax rates… Later, the 50 percent rate of taxing foreign oil income was materially increased in many nations… Colombia’s oil law of 1962 changed the tax rate to 68 percent of net income from production. Contract agreements with Indonesia provided that 60 percent of profits would go to the government… The oil companies were unable to pass on all the increased costs per barrel to petroleum consumers after 1957, because of the redundancy of supplies.

Private business investment is inherently superior to governmental aid as an instrument of development because it combines transfers of managerial and technical assistance with that of capital.