Some Blind Alleys Explored

Abstract

Policies for the development of public ownership must cope with the dilemmas and conflicts discussed in the previous chapter. They present real problems and cannot be overcome by superficial formulas which fail to recognise the underlying difficulties. This chapter seeks to demonstrate this proposition by looking at three ‘solutions’ to the problems and identifying their shortcomings.

My business habits had one other bright feature, which I called ‘leaving a Margin’. For example; supposing Herbert’s debts to be one hundred and sixty-four pounds four and two-pence, I would say, ‘Leave a margin, and put them down at two hundred.’ Or, supposing my own to be four times as much, I would leave a margin and put them down at seven hundred. I had the highest opinion of the wisdom of this same Margin, but I am bound to acknowledge that on looking back, I deem it to have been an expensive device. For we always ran into new debt immediately, to the full extent of the margin, and sometimes in the sense of freedom and solvency it imparted, got pretty far on into another margin. [Charles Dickens, Great Expectations]