Iron Curtain: No Care for Profit

On an international scale, the Iron Curtain countries have learned at least one time-honored tactic of capitalistic competition: a surefire way to win business is to chop prices below those of your competitors. For more than a year, West European shipping lines have watched helplessly as East-bloc ships captured a growing share of European cargoes by underbidding established rates by as much as 50%.

Unlike West Europe's struggling merchant fleets, the state-owned Communist shippers—mostly Polish and East German—have no qualms about operating at a loss, and can thus carry goods at almost any rate...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!