Abstract
The previous chapter examined the recent context of local and regional authority shareholding. This chapter explores the entrepreneurial activities of the state at the local, regional and national levels since the midnineteenth century when the introduction of limited liability in companies reduced the risk to shareholders and enabled the massive investment of private capital in manufacturing industry, the growth of large-scale industry and the growth in the number of companies. In particular, the chapter is concerned with the developing role of the state in individual enterprises at the local, regional and national levels during this developing process of capital accumulation. This provides the historical context for examining the mechanisms of local and regional shareholding in further detail.
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsPreview
Unable to display preview. Download preview PDF.
Notes
T. Daintith, ‘The Development of the Mixed Economy’, in W. Friedmann (ed.) Public and Private Enterprise in Mixed Economies (Stevens, 1974).
G. N. Ostergaard, ‘Labour and the Development of the Public Corporation’, Manchester School of Economic and Social Studies (May 1954).
B. Donoughue and G. W. Jones, Herbert Morrison: Portrait of a Politician(Weidenfeld & Nicholson, 1973) p. 145.
H. Finer, Municipal Trading (Allen & Unwin, 1941).
E. J. Hobsbawm, Industry and Empire (Penguin Books, 1969).
Bentley B. Gilbert, The Evolution of National Insurance in Britain: The Origins of the Welfare State (Michael Joseph, 1966) pp. 33–8.
J. Harris, Unemployment and Politics (Clarendon Press, 1972) p. 209.
DoE, Welsh Office, Ministry of Agriculture, Fisheries and Food, Review of the Water Industry in England and Wales (HMSO, 1976).
J. Tilley, Changing Prospects for Direct Labour, Fabian Tract 445, 1976.
M. Barratt Brown, Bulletin of the Institute of Workers Control, no. 9 (1971).
W. Robson, Nationalised Industry and Public Ownership (Allen & Unwin, 1960).
S. Holland, The Socialist Challenge (Quartet Books, 1975) p. 67.
S. Young and A. L. Lowe, Intervention in the Mixed Economy (Croom Helm, 1974).
W. Thornhill, ‘Government Shareholdings’, Local Government Chronicle (14 May 1976) p. 456.
Copyright information
© 1978 Richard Minns and Jennifer Thornley
About this chapter
Cite this chapter
Minns, R., Thornley, J. (1978). Municipal Socialism or Local Capitalism. In: State Shareholding. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-03768-1_3
Download citation
DOI: https://doi.org/10.1007/978-1-349-03768-1_3
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-03770-4
Online ISBN: 978-1-349-03768-1
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)