The Great Divestiture
Subtitle: Evaluating the Welfare Impact of the British Privatizations, 1979-1997
Publisher: The MIT Press
Published: June 1, 2004
Language: eng
Format: Hardcover
Number of pages: 440
ISBN-13: 9780262062404
Subjects: Economic history; c 1980 to c 1990; c 1990 to c 2000; Political Science; Business / Economics / Finance; Politics/International Relations; United Kingdom, Great Britain; Economics - General; Government & Business; Public Policy - Social Services & Welfare; Business & Economics / Economics / General; Economic Conditions; 1979-; Great Britain; Privatization; Public welfare; Social policy
Description: "The privatization carried out under the Thatcher and Major governments in Britain has been widely (although not universally) considered a success, and has greatly influenced the privatization of state industries in the transition economies of Eastern Europe. Massimo Florio's systematic analysis is the first comprehensive treatment of the overall welfare impact of this broad national policy of divestiture. Using the tools of social cost-benefit analysis, Florio assesses the effect of privatization on consumers, taxpayers, firms, shareholders, and workers. His conclusion may be surprising to some; his findings suggest that the changeover to private ownership per se had little effect on long-term trends in prices and productivity in Britain and contributed to regressive redistribution." "After historical and theoretical overviews of privatization and a look at macroeconomic trends in the Thatcher-Major era, Florio considers in detail the microeconomic effects of British privatization on several key groups. In successive chapters, he examines firms and productivity charges; shareholders' windfall gains and evidence of underpricing and outperformance in privatized companies; workers, management, and changes in industrial relations; consumers and the quantity and quality of goods."--BOOK JACKET.