Who controls the board

Abstract National performance results largely from the sum total of company performances, and comparative improvement or decline is most clearly indicated by trends in market share. When companies choose to raise reported earnings by retreating from markets, or by decreasing share selectively, they can only maintain this chosen ‘strategy’ to a point at which both earnings and market share suddenly disappear together in a puff. In Britain and America, and in other industrialized countries which follow their example, many complete sectors of industry have already disappeared in a puff.