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Enterprise and Society Advance Access published online on June 11, 2009
Enterprise and Society, doi:10.1093/es/khp015
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© The Author 2009. Published by Oxford University Press on behalf of the Business History Conference. All rights reserved. For permissions, please e-mail: journals.permissions@oxfordjournals.org.

Terry Gourvish. Britain's Railways 1997–2005: Labour's Strategic Experiment

Terry Gourvish. Britain's Railways 1997–2005: Labour's Strategic Experiment. Oxford, UK: Oxford University Press, 2008. xix + 309 pp. ISBN 978-0-19-923660-2, $60.00 (hardcover)

The first 10% of the full text of this article appears below.

Economic theory is not much of a guide to privatizing a railroad. The basic case for selling off government enterprises rests on the virtues of competition: forced to fight for customers and capital, a private business driven to maximize profits has different incentives than one able to tap state subsidies to meet social or political goals. But, while the economic case for privatization applies readily to a coal mine or a tourist hotel, a . . . [Full Text of this Article]

Marc Levinson

Graduate Center, City University of New York


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