The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd


  • M. V. Posner
Reference work entry


In socialist economies most enterprises, and all large enterprises, are publicly owned and controlled. In most capitalist economies, at most times, there have been some examples of enterprises owned, controlled, or managed by agents of the government. Naval shipyards, munitions factories, post offices, early telecommunication systems, and the water cycle – these are some of the earliest and continuing examples of public enterprise in an essentially private, capitalist setting.

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© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • M. V. Posner
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