This study is written first of all for the European manager who needs more information on the subject than ever before. The American science of management as a whole is scarcely known in Western Europe although many details have been learned and put to use. A general approach, however, is needed. I have tried therefore to develop the main aspects in this field seen against the background of the national sciences and its characteristics. Thus the scientist will find an approach which as yet has never been offered before and he will be faced with a challenge to help setting up a science of management on a universal scale. ACKNOWLEDGMENT The author wishes to express his appreciation to his colleagues, associates and staff for their contributions of time and effort. To some extent acknowledgment is made in the footnotes and in the bibliography. Particular mention must be made for the generous offering of time and effort expended by Mr. Louis Erbs, M. S. in c., and Mr. Philip Degnan, Jr., B.S. THE AUTHOR CONTENTS Preface. . . . . . . . . . . . . .. . . . v PART I / Introduction Building up economies in underdeveloped co- tries . . . . . . . . . . . . . . . . . . .