This article is based upon a lecture delivered at the Jubilee Conference of the Economic History Society at Churchill College, Cambridge, in April 1976. I gratefully acknowledge the discussion of my paper and also wish to thank Professor M.M. Postan and Mr. Clive Trebilcock for reading the manuscript and for their comments. This article draws upon source material collected during two research projects for which thanks are due to the Social Science Research Council for their financial support: the ‘East European (...) Economic History Project’ in which I conducted research with the Investigator Michael C. Kaser at St. Antony's College, Oxford, and my current research on ‘Multinational Companies in Central-East Europe’ at the University of East Anglia, Norwich. Any errors and omissions are my own. (shrink)