In a paper presented to the International Economic Association in 1969, which was subsequently published in a volume edited by Charles Kindleberger and Andrew Shonfield (1971), the author sought to estimate the extent to which the technology and managerial gap between the USA and Western Europe, which was causing concern to many European commentators in the late 1950s and early 1960s, 1 had been reduced between 1955 and 1965, and what role (if any) US manufacturing subsidiaries had played in this.