Public or Private Ownership? The Dilemma of Urban Utilities in London and New York, 1870–1914
This chapter presents a theoretically informed discussion on the origins and development of public ownership in Britain. It focuses on a period of history when different economic and political forces were operating, a time when municipalization and private ownership were both considered to be viable options. It argues that despite much contemporary and historical perception to the contrary, the inexorable absorption of infrastructure services by the public sector was more a product of agency problems than a function of the political complexion of government.
Keywords: Britain, public ownership, utilities, municipalization
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