| Abstract: | Abstract: This paper examines recent developments in the debate in Britain about the role of public enterprises which are wholly owned by the State, that is, the nationalized industries. The changing political and economic context surrounding public enterprise is briefly outlined and the successive attempts to give operational significance to concepts of accountability and performance are noted. In the light of this review recent developments in the framework of control are discussed. It is argued that the parliamentary system has failed to develop adequate criteria of accountability and performance for the nationalized industries, in part because of inherent difficulties common to systems of representative government, which in Britain have been exacerbated by a declining rate of economic growth and attendant attempts to reduce public expenditure. |
