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First published in 1973, Efficiency Criteria for Nationalised Industries asks by what criteria we should judge the efficiency of nationalised industries, what we mean by saying they should be run commercially and where the public interest should lie. In this work, Professor Nove believes we answer these questions incorrectly due to a lack of understanding of economic theory and a desire to relate real world economics to that of the text book. The author says many economists, in a world of indivisibilities, complementarities and systems, persist in thinking in terms of one-dimensional, fragmented marginalism. Professor Nove, who is known for his writings on the Soviet economy, raises many points relevant to the East as well as the West. His work contributes to the economics of socialism, while also making the case for greater realism in economic theory in general.
*** Winner of the Myrdal Prize for Evolutionary Political Economy *** The last few years have seen the spectacular failure of market fundamentalism in Europe and the US, with a seemingly never-ending spate of corporate scandals and financial crises. As the environmental limits and socially destructive tendencies of the current profit-driven economic model become daily more self-evident, there is a growing demand for a fairer economic alternative, as evidenced by the mounting campaigns against global finance and the politics of austerity. Reclaiming Public Ownership tackles these issues head on, going beyond traditional leftist arguments about the relative merits of free markets and central planning to present a radical new conception of public ownership, framed around economic democracy and public participation in economic decision-making. Cumbers argues that a reconstituted public ownership is central to the creation of a more just and sustainable society. This book is a timely reconsideration of a long-standing but essential topic.
This work examines public expenditure, explaining the size and the structure of the system of public finance. Suitable for use as a course text, it can function as a point of departure for empirical and analytical studies on the behaviour of governments.
This is a detailed archive-based study of the economic planning of the Attlee governments, in which the author seeks to analyse the interaction between the decisions of central planners and the micro-economic effects of these decisions. Throughout the book, Martin Chick pays particular attention to the level, pattern and quality of fixed capital investment. At the same time, there is a continuous concern with the struggle between politicians, economists and industrialists over the mix of pricing mechanisms and administrative orders which were to be used in this period. This struggle permeated all discussions over matters such as the organisation of nationalised industries, the monopoly structure of nationalised industries, the allocation of resources and the promotion of higher productivity. The author also asks what impact, if any, economic planning had on the productivity performance of the UK economy.
Monograph on public investment planning and decision making in the gas and electric power public enterprises in the UK - studies applications of investment criteria and covers choice of a discount rate, separation of investment and pricing decisions, etc. Bibliography pp. 177 to 188.
No one personified the age of industry more than the miners. The Shadow of the Mine tells the story of King Coal in its heyday – and what happened to mining communities after the last pits closed. The Shadow of the Mine tells the story of King Coal in its heyday, the heroics and betrayals of the Miners’ Strike, and what happened to mining communities after the last pits closed. No one personified the age of industry more than the miners. Coal was central to the British economy, powering its factories and railways. It carried political weight, too. In the eighties the miners risked everything in a year-long strike against Thatcher’s shutdowns. Their defeat doomed a way of life. The lingering sense of abandonment in former mining communities would be difficult to overstate. Yet recent electoral politics has revolved around the coalfield constituencies in Labour’s Red Wall. Huw Beynon and Ray Hudson draw on decades of research to chronicle these momentous changes through the words of the people who lived through them. This edition includes a new postscript on why Thatcher’s war on the miners wasn’t good for green politics. ‘Excellent’ NEW STATESMAN ‘Brilliant’ TIMES LITERARY SUPPLEMENT ‘Enlightening’ GUARDIAN