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Full Description
This book examines the rise and fall in the twentieth-century Western world of state-owned enterprises, a chief instrument of state economic intervention. It offers historical perspective on the origins and purpose of state-owned enterprises, their performance, and the reasons for their precipitate decline from their heyday in the 1960s to the waves of privatization in the 1980s and 1990s. Looking to the future as well as the past of state business, this book explores the concept of state-owned enterprise and its context in Western political economy, as well as the permutations and future prospects of the institution in practice. The contributors present studies of the development of state-owned enterprises in seven Western European countries and the United States.
Contents
Preface; Part I. Setting the Stage: 1. The rise and fall of public enterprise: the framework Pier Angelo Toninelli; 2. The decline of state-owned enterprise and the new foundations of the state-industry relationship Nicola Bellini; 3. The performance of state-owned enterprises Yair Aharoni; 4. The role of the state in economic growth Erik S. Reinert; Part II. National Cases: 5. The rise and fall of state-owned enterprise in Germany Ulrich Wengenroth; 6. Beyond state or market: Italy's futile search for a third way Franco Amatori; 7. State enterprise in Britain in the twentieth century Robert Millward; 8. The rise and decline of state-owned industry in twentieth-century France Emmanuel Chadeau; 9. The rise and decline of Spanish state-owned firms Albert Carreras, Xavier Tafunell and Eugenio Torres; 10. Fifty years of state-owned industry in Austria, 1946-96 Dieter Stiefel; 11. State-owned enterprises in the Netherlands in the long twentieth century M. Davids and Jan L. van Zanden; 12. State-owned enterprises in a hostile environment Louis Galambos; Conclusion: Schumpeter revisited Louis Galambos and William Baumol.
