In the late 1960s, contractors were faced with shrinking margins, as demand fell following the post-war boom. Returns could have been increased by contractors investing in the businesses, innovating and increasing productivity. But they didn't do this. Instead, they became financial investors. The high interest rates of the 1970s and 80s offered good returns on short-term investments. Contractors found that all the surplus working capital they were sat on now had a lucrative home to go to.
展开▼
