operate with us in the maintenance of peace and
security.

Fourth, we must embark on a bold new program for making the benefits
of our scientific advances and industrial progress available for the
improvement and growth of underdeveloped areas.

More than half the people of the world are living in conditions
approaching misery. Their food is inadequate. They are victims of
disease. Their economic life is primitive and stagnant. Their poverty is
a handicap and a threat both to them and to more prosperous areas.

For the first time in history, humanity possesses the knowledge and the
skill to relieve the suffering of these people.

The United States is pre-eminent among nations in the development of
industrial and scientific techniques. The material resources which we
can afford to use for the assistance of other peoples are limited. But
our imponderable resources in technical knowledge are constantly growing
and are inexhaustible.

I believe that we should make available to peace-loving peoples the
benefits of our store of technical knowledge in order to help them
realize their aspirations for a better life. And, in cooperation with
other nations, we should foster capital investment in areas needing
development.

Our aim should be to help the free peoples of the world, through their
own efforts, to produce more food, more clothing, more materials for
housing, and more mechanical power to lighten their burdens.

We invite other countries to pool their technological resources in this
undertaking. Their contributions will be warmly welcomed. This should be
a cooperative enterprise in which all nations work together through the
United Nations and its specialized agencies wherever practicable. It
must be a worldwide effort for the achievement of peace, plenty, and
freedom.

With the cooperation of business, private capital, agriculture, and
labor in this country, this program can greatly increase the industrial
activity in other nations and can raise substantially their standards of
living.

Such new economic developments must be devised and controlled to benefit
the peoples of the areas in which they are established. Guarantees
to the investor must be balanced by guarantees in the interest of the
people whose resources and whose labor go into these developments.

The old imperialism--exploitation for foreign profit--has no place in
our plans. What we envisage is a program of development based on the
concepts of