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The Economist, a London-based, busines oriented, weekly news magazine, threw off its usual reserve to take sides in the American election. The latest issue throws the benefit of the magazine's influence to Ronald Reagan.

"Many of America's friends want, unusually in a presidential election, to see a change at the top, even one laden with risk," it said. "We agree with them."

"Another four years of Mr. Carter would probably be much like the past four, for there is nothing in the President's makeup to lead one to believe he is likely to change his ways.

"Mr. Reagan brings with him some heavy ideological baggage. Some of that, though not all of it, will need to be quickly shed.

"But Mr. Reagan also holds out the promise of a firmer line abroad, based on a sounder structure of advice. He would almost certainly bring in more new ideas, for the Republican Party now shows more signs of intellectual vitality than the Democrats."

On the home front, the Philadelphia Bulletin endorsed Reagan, as a "tough, determined, practical candidate for the presidency. We think he deserves the chance to show what he can do."m

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