Quote:
Originally Posted by heero_yuy
Nationalisation is not the answer that some think. You only have to look at the economic disaster that is Venezuela to see where that leads.
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Nationalisation can be a good thing, Venezuela's problem is Socialism and corruption.
It is also worth noting that nationalsation doesn't just mean taking over a company/companies. The Government have to buy out the investors. In Venezuela the socialist Government just took them over, the outcome was obvious.
If you want to talk about the rail companies prior British Rail then that is a different matter. They were all on the verge of collapse following the 2nd world war due to Government debt, part of that the debt still owed by the Government following the 1st world war.
During both conflicts the rail industry worked flat out supplying industry with the raw materials it needed, transporting troops and munitions on Government promisory notes. It got even worse during the second conflict because instead of the necessary upgrades and improvements money had to be diverted to necessary repairs due to the bombing.
There was no alternative to privatisation of the railways otherwise there would be none now. They were cheap to buy.
So as imperfect as it is (due to lack of investment) nationalisation saved the railways.