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Revisiting Public Ownership

Author

Listed:
  • Andrew Cumbers

    (School of Geographical and Earth Sciences, University of Glasgow, Glasgow, Scotland, UK)

  • Robert McMaster

    (Business School, University of Glasgow, Glasgow, Scotland, UK)

Abstract

Public ownership in the form of nationalization of the banking sector has re-emerged on the public agenda. Yet, there has been very little debate about the meaning, status, and function of public ownership as an alternative strategy in the context of globalization and advanced capitalism. Here, as a contribution to this agenda we advocate forms of public ownership tailored to enhance democratic decision making in the economy, to achieve greater equality and social cohesion, and wherever possible to encourage localized rather than central control and ownership.JEL classification: B51; H10; L00.

Suggested Citation

  • Andrew Cumbers & Robert McMaster, 2012. "Revisiting Public Ownership," Review of Radical Political Economics, Union for Radical Political Economics, vol. 44(3), pages 358-373, September.
    • Handle: RePEc:sae:reorpe:v:44:y:2012:i:3:p:358-373
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    More about this item

    Keywords

    public ownership; democracy; knowledge; participation; justice;
    All these keywords.

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • H10 - Public Economics - - Structure and Scope of Government - - - General
    • L00 - Industrial Organization - - General - - - General

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