Dec 23, 2009

Saved | Compare and Contrast

1965: As part of the ‘‘Welfare State,’’ the government owned and operated all public transportation, telephone, gas, electric, and water utilities, coal, petroleum, and steel industries. The government was by far the largest employer in the nation.

Today: All the industries listed above, including the utilities, have been privatized—sold to stockholders— to promote efficiency through greater competition.

1965: The United Kingdom was a leading trading nation but functioned as a separate entity financially and economically.

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