Nationalization of Industries a Criticism

Cover Nationalization of Industries a Criticism
Nationalization of Industries a Criticism
Alfred Emmott Emmott
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These steps were worked out by practical men who were masters of their craft and ready to accept responsibility for them, who stood to gain both financially and socially by their success, and who would have lost most of their money and all their reputation had they failed. There was no question in most cases of absorbing the whole of an industry, some concerns profitable and progressive, others uneconomic and decadent. Each amalgamation was in itself a concrete proposition of a manageable size ...in which the promoters believed they saw a financial gain, and for which they were ready to run risks. The scale of the combination was limited to the proportions desired by the promoters, and the amalgamated organization was in their opinion of a size which they could satisfactorily control. In many recent combinations the actual steps taken have been an interchange of shares and pooling of interests, control and management being left untouched. In others, where 30 NATIONALIZATION OF INDUSTRIES the whole or the majority of shares have been bought, the old directorate and staff have been left almost unaltered, and the business goes on precisely as before.

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