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Closures : should the government subsidise loss-making enterprises

Williams, David (1984) Closures : should the government subsidise loss-making enterprises. Quarterly Economic Commentary, 10 (2). pp. 78-81. ISSN 0306-7866

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Abstract

The most powerful arguments against the provision of public subsidy to loss-making enterprises seek to establish that it is the public welfare, rather than private interest, which is diminished by the subsidy; that, moreover, the subsidy assists some privileged group at the expense of the great majority of the population, many of whose members have incomes lower than those of the people that they are obliged to subsidise. This economic perspective revisits the arguments.