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Socialists then shift the ground for taking industries into “public ownership”. They then tell us that some industries cannot survive any longer unless they are taken into public ownership, allegedly to protect the public from the effects of their collapse. It all sounds so cosy, and so democratic. But is it true? No, of course it isn't. The moment ownership passes into the name of the public is the moment the public ceases to have any ownership or accountability, and often the moment when it ceases to get what it wants. But it is invariably the moment when the public starts to pay. Pays to take the industry over. Pays the losses by higher taxes. Pays for inefficiencies in higher prices. (en) |
