Why Government Ownership Always Fails
The profit motive is absent in totalitarian regimes
By Bruce Walker —— Bio and Archives--June 15, 2009
American Politics, News | Comments | Back To Full Article
Federal ownership of industry is not uncharted territory. Europe, for much of the Twentieth Century, was a vast experiment in nationalization. It never works, but the reasons for failure are not always grasped. When the Labour Party in Britain entered into its long period of nationalization, the motives of its leaders were not bad. The unions did not desire economic stagnation and lower standards of living. Nor were they fools.
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