ABSTRACT
It is important to commence on an appropriate note of caution. Economic events are usually exceedingly complex. The complexity multiplies when attempting to isolate causes and to allocate the appropriate weights. A number of companies feel completely unable to comment upon the economic consequences of action taken under the 1948 Act. The Secretary of British Insulated Callender’s Cables Ltd neatly explained his position in this respect:
We feel that to endeavour to answer the series of questions which you have raised would be to enter into a field of controversy upon matters which are inevitably to a large extent based on opinion rather than on fact, and which moreover are subject to the major difficulty of distinguishing between post hoc and propter hoc.
