Magazine content is available exclusively for TIME subscribers.BUSINESS ABROAD: Socialism in France
"Will we ever know," asked France's conservative Le Figaro, "exactly how much [industry] has been nationalized?" The paper — along with many a French businessman — was boiling mad over a 235-page government publication which was in the spotlight last week as the government wrestled with the budget. The book showed that in France, socialism has not crept; it has galloped. Since the war, the government's interest in private enterprise has more than doubled (to $937 million). Government holdings now comprise about one-third of the industrial plant.
The nationalization of the French railroads, coal mines, electrical industry and other such...
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