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Public and Private Ownership of British Industry 1820–1990$
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James Foreman-Peck and Robert Millward

Print publication date: 1994

Print ISBN-13: 9780198203599

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198203599.001.0001

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The Causes and Content of the 1940s Nationalizations

The Causes and Content of the 1940s Nationalizations

Chapter:
(p.274) 8 The Causes and Content of the 1940s Nationalizations
Source:
Public and Private Ownership of British Industry 1820–1990
Author(s):

James Foreman-Peck

Robert Millward

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198203599.003.0008

The industries which were nationalised in the 1940s have been described as ‘basic’, a loose but commonly used phrase meaning no more than that they were part of the fuel and transport infrastructure or were producers of major capital goods like iron and steel. Nationalisation means that all the assets associated with specific products or services are brought under public ownership. Many of the existing companies had substantial ancillary activities which were difficult to unscramble from the main line of business; hence whole undertakings were often acquired. The railways were nationalised and the new Railway Executive had a monopoly on all rail services. Nationalisation was thus associated with the sale of certain products and services under monopoly conditions which were enshrined in the nationalisation statutes.

Keywords:   nationalisation, public ownership, railways, Railway Executive, monopoly, statutes, products and services, industries

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