"The audit of the Great War showed up widespread human weaknesses in British industry. Too many British capitalists in their boardrooms were simply self-trained "practical men" smugly content with old products, old equipment and old markets, guided by a concern for short-term profits rather than for the long-term development of their businesses. The trade unions...were resolutely resistant to new technology, while also holding back productivity by a maze of demarcations and restrictive practices."