The nationalisation mantra - 1974

In 1974 a think tank appointed by the left-leaning Labour government came up with a new cure. Nationalisation. Under state control the government can allocate just the resources that are needed. And also to make sure that the company is run in a way that is consistent with state policy – for example, to maintain maximum number of jobs. The government was quite unable to do anything about the real problems - the terrible industrial relations, the fragmented production, terrible quality and the lack of skills within the company of how to run a very large operation. And the very poor performance of the British economy did not help. This was the era when the whole British economy was crippled by strikes and industrial disputes.

New Rover under British Leyland ownership. Flashy and a terrible risk to buy. Car of the year maybe, but then most people get the chance of 15 minutes of fame.

2008-05-12