BUSINESS ABROAD: State v. Private Industry

In Britain last week a box score on nationalized v. denationalized industry was posted. Year-end reports showed that steel, denationalized by the Tories after they took power three years ago, was doing much better than the government-run coal mines and railroads. Steel output last year hit an alltime high of 18.5 million tons, 43% over the prewar rate, and production schedules released last week estimated production at about 19.5 million tons this year and 21 million by 1958.

Although Laborites could argue that Britain's prospering economy helped the rise, there was little doubt about the real reason for it:...

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