Britain's Socialists, committed to a "mixed" economy of private and state industry, were finding the line between the two areas increasingly difficult to draw. Last week the Labor Government announced the first major retreat in its nationalization program: the steel industry.
The powerful Iron and Steel Federation had refused to supply men to sit on the Government's "control board" supervising nationalization. Dryly, the Economist explained the reason why: "It may clear a man's mind wonderfully to know that he is to be hanged in the morning, but it shows some want of tact to expect him to tie the noose." After...
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