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Public Undertakings
The old laissez faire theory of state activity has given way to the socialist and welfare theory of state. The trend is towards increasing government intervention in the economic field. We find examples of state enterprises in almost all the countries of the world; both developing and developed. Even in a country like America, where public undertakings are looked as curtailment of individual liberty, we find the Tennessee Valley Authority as a very good example of public enterprise. In France, public enterprises cover a large sector of the French economy. So is the case in Britain. In the developing countries like Sri Lanka, Pakistan, Turkey and Burma we find a number of public enterprises.
After Independence the public ...
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