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Public sector ownership

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In contrast, the system of public ownership and control of enterprise has been in retreat for many years, especially following the collapse of communism in Russia and its former satellites. Nonetheless the public sector remains central: for example in Europe, besides the major organisations already noted such as Britain’s NHS and the BBC, there remain substantial government stakes in important companies, especially in France and Italy. Also, in both Europe and the USA, there are many utilities which are owned and controlled by municipalities. And notably, the public sector took full or partial ownership of key financial institutions during the banking crisis of 2007-2009 and its aftermath.

Creating Risk Capital

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