Great Britain: A Costly Shibboleth

The nationalization of Britain's steel industry has long been an emotion charged shibboleth for British socialists. Clement Attlee's Labor government succeeded in taking over the industry in 1951 — only to be driven from office eight months later, partly because it had muddled the steel industry so badly. The Tories put most of steel back into private hands. When he took over as Prime Minister in 1964, Harold Wilson tried to renationalize steel with his thin majority, but retreated when he saw how perilous ly close the vote would be. Last week, with a healthy majority assured since the March...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!