From Alan Greenspan's book Capitalism In America:
“U.S. companies conquered global markets in an astonishing range of areas (though luxury goods remained a European stronghold).
By the mid-1960s, Ford and GM were the second- and third-biggest “European” car manufacturers after Fiat.
U.S. companies made over 80 percent of Europe’s computers.
In Britain, Keynes’s darkest fears of an American takeover had been realized: U.S. firms accounted for over half of the British market for cars, vacuum cleaners, electric shavers, razor blades, breakfast cereals, potato chips, sewing machines, custard powder, and typewriters.
Kodak produced 90 percent of the film sold in Britain; Heinz accounted for 87 percent of baby food and 62 percent of baked beans; Kraft and Swift accounted for 75 percent of the processed cheese.
Many Europeans looked on in despair.
In The American Challenge (1967), Jean-Jacques Servan-Schreiber argued America’s superior ability to manage big companies across huge geographical areas was making it impossible for European companies to compete.
The Americans had mastered the tools of organization that held the key to prosperity.
The Europeans, on the other hand, were held back by their commitment to family ownership and gentlemanly values.
The “art of organization” remained “a mystery to us,” as he put it.
Servan-Schreiber’s book became not just a bestseller but a catalyst to action: it helped to inspire European dreams of creating a common market as big as the American market and a cadre of business schools as professional as American business schools.”
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Meanwhile, Russia/USSR’s 5% controlling communist party was denigrating capitalism’s happy and ingraining communism’s misery, to the awful full enjoyment and joy of Russia’s 47.5% who wanted and still want zat.
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