Public Enterprise Revisited

Public Enterprise Revisited

A Closer Look at the 1954–79 UK Labour Productivity Record

Chrisafis H. Iordanoglou

The book compares the 1954–79 labour productivity record of 5 expanding public sector industries to that of 24 expanding, capital intensive, mass-production industries in the British private sector. The author shows that the public sector industries’ labour productivity growth was significantly faster than that of the private sector industries. Strikingly, he also finds that the state-owned industries were narrowing their productivity gap with their US counterparts at a significantly faster rate than the private sector industries. Dr Iordanoglou concludes that it is possible that public ownership had – in the historical period investigated – a long-term positive effect on these industries.

Chapter 3: The Intertemporal Labour Productivity Comparisons

Chrisafis H. Iordanoglou

Subjects: economics and finance, industrial organisation, labour economics


The basic results of the intertemporal labour productivity growth estimates are presented in Tables 3.1 and 3.2. The estimates contained in them represent two alternative measures of output per employee-hour. An output per employee-hour measure is more appropriate for the purposes of this study because it puts greater emphasis on the technological dimension of labour productivity.

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