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- Title
BRITISH NATIONALIZATION AND AMERICAN PRIVATE ENTERPRISE: SOME PARALLELS AND CONTRASTS.
- Authors
Lewis, Ben W.
- Abstract
This paper attempts some free-ranging, loosely linked observations about aspects of nationalized industry in Great Britain and draws some parallels and contrasts with American industrial corporations. It pretends nothing in the way of a systematic survey, and, although taking off in Britain, it spends as much time here as there. In the Queen's speech, Britain's new Labor Government formally declared its intention to nationalize steel. The Loyal Opposition forced a division, and forthwith, by a precarious margin, Labor's decision was bound and sealed. The government is now committed to nationalize steel in some manner and degree. Graphically, Labor, holding a bear by the tail, has painted itself into a corner. It can wait for the paint to dry, but the bear will still be there. In the United States, in the meantime, the Administration and steel are eyeing each other warily. In the United States, private ownership of steel has never been displaced, and no displacement is even in long-run prospect. The industry has had its skirmishes with antitrust.
- Subjects
UNITED Kingdom; UNITED States; GOVERNMENT business enterprises; STEEL industry; BRITISH economic policy; AMERICAN business enterprises; UNITED States economic policy; CROSS-cultural studies; NONGOVERNMENTAL organizations
- Publication
American Economic Review, 1965, Vol 55, Issue 2, p50
- ISSN
0002-8282
- Publication type
Article