In the U.S., the idea that the state should own major industries conjures up images of such titans of inefficiency as the Postal Service or British Steel. French Socialists cite a far different example: the Renault automobile company, which General Charles de Gaulle nationalized in 1945 to punish Founder-Owner Louis Renault for allegedly collaborating with the Nazi Occupation and which today stands out as one of France's most dynamic enterprises.
Renault is the world's fourth largest automotive firm.* It earned profits of $160 million last year, compared with a $349 million loss for...
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