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Exposed to Innumerable Delusions - Public Enterprise and State Power in Egypt, India, Mexico, and Turkey (Hardcover)
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Exposed to Innumerable Delusions - Public Enterprise and State Power in Egypt, India, Mexico, and Turkey (Hardcover)
Series: Political Economy of Institutions and Decisions
Expected to ship within 12 - 17 working days
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The states of Egypt, India, Mexico and Turkey have all developed
extensive public enterprise sectors and have sought to regulate
most economic activities outside the state sector. Their
experiences have been typical of scores of developing countries
that followed similar paths of industrialisation. This 1993 study
examines the origins of these state sectors, the dynamics of their
growth and crises, and the efforts to reform or liquidate them. It
is argued that public ownership creates its own culture and
pathology that are similar across otherwise different systems. The
logic of principal-agent relations under public ownership is so
powerful that it swamps culture and peculiar institutional
histories. While public sectors accumulate powerful associated
interests over time, against most predictions these prove
relatively powerless to block the reform process.
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