Should Industries be Nationalised?
The demand for nationalisation of industries has to be dealt with caution. The following points should be considered:
- If the government’s financial and administrative problems are already complicated, it may be undesirable to encourage or introduce further nationalisation.
- Considerations of public welfare must guide the government’s industrial policy. The government should not allow the excesses of the industrialists.
- The government should try every means in its power to bring about greater co-operation between capital and labour and realise higher standards of production.
- Where considerations of efficiency unmistakably favor nationalization, the government should not hesitate to adopt that course.
- A government, like an individual, has to learn its lessons by trial and error, and nationalisation also is to be given a fair trial, fair enough to bring out its best results. Nationalisation may be practicable in some spheres and desirable in many others. But we must hasten slowly.
