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Creating Risk Capital: A Royalty Fund Solution to the Ownership and Financing of Enterprise by Ian Whalley

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8. Public Service Enterprises and Legitimacy

The nature and legitimacy of organisations which, whatever their legal structure, provide what everyone continues to think of as a public service – water, transport, health, education – need careful attention.

John Kay and Aubrey Silberston [1]

The major shift in the ownership of enterprises, from public to private, and the move towards more private provision of public services, were core elements in the wave of privatisations over much of the world that began in the 1980s, with Britain at the forefront.

This was full circle for many such enterprises, which had originally been private, then had been nationalised in the public interest, and were now returned to private ownership. Thus, privatisation ...

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