Returns To Private Life
After resigning as Assistant Secretary of State, Rockefeller returned to private life later in 1945. He served as Chairman of Rockefeller Center, Inc., (1945–1953 and 1956–1958) and began a program of physical expansion. He established the American International Association for Economic and Social Development (AIA), in 1946, and the International Basic Economy Corporation (IBEC), in 1947 to jointly continue the work he had begun as Coordinator of Inter-American Affairs. He intermittently served as president of both through 1958. AIA was a philanthropy for the dissemination of technical and managerial expertise and equipment to underdeveloped countries to support grass-roots efforts in overcoming illiteracy, disease and poverty. IBEC was a for-profit business that established companies that would stimulate underdeveloped economies of certain countries. It was hoped the success of these companies would encourage investors in those countries to set up competing or supporting businesses and further stimulate the local economy. Using AIA and IBEC Rockefeller established model farms in Venezuela, Ecuador and Brazil. He maintained a home at Monte Sacro, the farm in Venezuela.
Read more about this topic: Nelson Rockefeller
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