ABSTRACT
Throughout the post-war years, the British economy has had to withstand a whole series of balance of payments crises. This is common knowledge. So has been the tendency for them to recur with alarming regularity. The present economic crisis is the sixth since the end of the war. Associated with this experience has been an apparent inability to limit increases in wages and dividends to the achieved rise in productivity per man-hour and this has had the effect of pushing up costs, thereby greatly endangering the country’s competitive position. There has also been evidence of insufficiently aggressive selling, using that term in the widest possible sense to include failure to meet delivery dates and inadequate post-sales servicing arrangements.
