Much of this was hidden during the 1950s and 1960s by the glamour developments of American high technology (especially in the air), by the high prosperity which triggered off consumer demand for flashy cars and color televisions, and by the evident flow of dollars from the United States to poorer parts of the world, as foreign aid, or as military spending, or as investment by banks and companies. It is instructive in this regard to recall the widespread alarm in the mid-1960s at what Servan-Schreiber called le deft Americain-the vast outward surge of U.S. investments into Europe (and, by extension, elsewhere), allegedly turning those countries into economic satellites; the awe, or hatred, with which giant multinationals like Exxon and General Motors were regarded; and, associated with these trends, the respect accorded to the sophisticated management techniques imbued by American business school.