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* S h y a m J . K a m a t h 1. Introduction The year 1990 marked exactly a decade since what has been called by some the "Privatization Revolution" began with the election of the pro-free market Reagan and Thatcher governments on either side of the Atlantic. The last years have seen a radical shift in the perceptions and reactions of politicians, policy-makers, the public and economists with regard to the role of the public and private sectors in a m o d e r n e c o n o m y . Support f o r the p o l i c i e s of nationalization, g o v e r n m e n t regulation and mixed enterprise development (which characterized economic thinking and policy in the industrialized economies, especially those in Europe, and in particular the developing economies throughout the fifties, sixties and seventies) has been considerably eroded by the events of the eighties and supporters of such policies are increasingly finding themselves beleaguered by the privatization onslaught. The privatization revolution has spawned a flood of literature both for and against the efficacy of privatization including a number
Journal des Économistes et des Études Humaines – de Gruyter
Published: Mar 1, 1994
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