Scaling the Commanding Heights of Public Enterprise Economics

Ben Fine

Cambridge Journal of Economics, 1990, vol. 14, issue 2, 127-42

Abstract: There is a new orthodoxy in the economics of the public sector that has been promoted by privatization and for which ownership, as such, is essentially seen as irrelevant as compared to conditions of competition and regulation. This is shown to depend upon an illegitimate and static view of the beneficial effects of competition; a questionable distinction between natural and artificial monopoly; a false history of the motives for, and the performance of, the nationalized industries; a reduction of industrial to competition policy; and a failure to examine intersectoral linkages. Rectifying these deficiencies suggests an alternative analytical, and more favorable, stance on public ownership. Copyright 1990 by Oxford University Press.

Date: 1990
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