Panel Urges Increase In Investment Abroad

American business and the U.S. Government must meet the Russian economic threat by joining in a search for "new horizons" for private investment abroad, according to a panel discussion last night with Sinclair Weeks '14, former Secretary of Commerce.

The panel, sponsored by the Graduate Young Republicans, also included Milton Katz '27, Henry L. Stimson Professor of Law; Raymond Vernon, professor of International Trade and Investment; Boston banker Prescott C. Crafts; and television newsman Louis Lyons as moderator.

Crafts attacked the "fetish of keeping foreign aid and business investment in two different worlds." He advocated a policy of closer partnership between business and government, to include joint projects.

Katz and Vernon, on the other hand, pointed to the dangers of "too much blending of government and business."