Public enterprises have played a central part in the development of
mixed economies in the post-World War II period, but they are now
in a crisis phase. Privatization has pushed back the level of
public enterprise almost throughout the world. Where public
enterprises remain, they are subject to more severe and restrictive
regimes. This critique of public enterprise analyzes why its
performance has fallen far short of expectations. The book deals
with the establishment of public enterprises, micro and macro
considerations and possible solutions to shortcomings, including
privatization. Throughout, the approach is analytical, but the
arguments are supported by extensive examples from both developed
and developing economies.
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