Indonesia dramatizes the dilemmas of the poor countries whose officials are forced to be corrupt. Maladministration reduces the collection of income … - Neil H. Jacoby

Because some conglomerate, and other, mergers have proved to be unsound and failed. It has been proposed that government should prohibit such mergers. But there is no feasible way to identify bad mergers in advanced; only time and the test of market competition reveal them.

Still another trend supports greater emphasis upon the social responsibilities of business firms and greater interest in the interactions between business and public policies. The great problems of contemporary society, such as environmental pollution, waste disposal, unemployment, poverty, urban renewal, and mass transit, are most likely to be solved by combining the organizational discipline of the action-oriented business corporation with the legal and taxing powers of government. Private corporations will more frequently be used to attain public purposes. At the same time, the public has made it clear that it will no longer tolerate the thrusting of private cost upon itself.

World energy problems entered the headlines during 1973 and 1974 when members of the Organization of Petroleum Exporting Countries (OPEC) unilaterally quadrupled the price of crude oil. Concurrently, members of the Organization of Arab Petroleum Exporting Countries (OAPEC) cut back production and imposed a temporary embargo on shipments to the United States for political reasons. Suddenly, the industrialized nations awoke to their heavy and increasing dependence upon the abundant supplies of oil from Africa, the Middle East, and Latin America.