Published online by Cambridge University Press: 02 September 2013
Due to the necessities of post-war reconstruction, and owing also in no small part to the deflation of public confidence in the, private-initiative-in-industry presumption, it seems clear that greater nationalization and municipalization will occur in those countries where such a development is not already well-advanced. Where, as a result of revolution and dictatorship, extensive economic services are already publicly owned and operated, the problems of public administration have become enormous and disconcerting. Satisfactory bureaucracies are not built in a decade.
1 “Nor should we hastily accept the libel on human nature that it is only under the perpetual stimulant of daily fluctuations of loss and profit that man will do his best work. … How few indeed of those who do the world's work do so under the conscious stimulus of constantly varying profit! Entrepreneurs have this stimulus, but the men they direct work for wages and salaries which are stable for long periods and only differ from those of a public service in a somewhat greater insecurity, which is destined to be reduced. And such leaders of industry do themselves an injustice when they consider that their own motive is only or mainly that of unlimited profit, as the best of them always show when they have the opportunity of creative work under different conditions.” SirSalter, Arthur, Recovery (London, 1932), p. 213Google Scholar.
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