| Abstract: | In an article in the December 1977 issue the author described an analytical method to determine the reaction of British industry to the oil crisis. The purpose of this paper is to carry forward the discussion by examining and comparing circumstances in three British industries between 1963 and 1975.The paper aims first, to show how and why the cost structures of these three industries differ; second, to examine changes forced upon companies by inflation of earnings, statutory control of prices and the oil crisis; and finally to assess how far these congruent economic forces have impinged on tangible and intangible investment.The data used for this study were drawn from British and Canadian official statistics but, as described in Part 1, a new analytical technique was devised to give due weight to the full range of investment expenditure. |
