The Palm Beach Post from West Palm Beach, Florida on November 14, 1968 · Page 11
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The Palm Beach Post from West Palm Beach, Florida · Page 11

West Palm Beach, Florida
Issue Date:
Thursday, November 14, 1968
Page 11
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Page 11 article text (OCR)

Palm Beach Post, Thurs., November 14, 1968 All Sweden Moves Toward Bigger Government Industry IC l N.V. Times Newsservice 7 p DRY GLEANERS AND LAUNDRY 1 14 No. County Rd. Palm Beach 226 So. Dixie (Cor. of Evernia St.) W.P.B. SALE OH DRY CLEANING 0 0 1 PALM BEACH MALL imported hvuvvr i'vhs w ) 1 1 AH) y vinnpare at 1 7.00 ' It's a great day for fashion I Bring one garment for regular price Get second of samegarment for One Cent dustrial policy" or whether it is new at all. "This is not exactly a new kind of activity," he said in an interview. "It is activation of what we have done previously, and we are doing more of it." New institutions have been set up to effect this policy. They include a government investment bank with $840 million to lend or invest, an industrial development corporation, a research agency and a joint labor-management-gover n-mont Industrial Policy Council. The government is also looking into the question of greater worker participation in such state-owned industries as iron ore mining and the liquor monopoly, in the interests of what it calls "economic democracy." Recently, the Swedish Government acquired three machine tool companies with .'(5 per cent of the market. Eiut officials say a more typical activity is the new joint venture, ASEA-ATOM, between the government and the electrical nuclear reactor systems. The government views its role as similar to that of the U.S. Government in underwriting American developments in space, electronics and other advanced fields. ASKA's participation is significant since that company is strongly influenced by the Wallenbergs, the Swedish bankers and strong capitalists who are often a target of left-wing attacks. For all the talk of Swedish socialism and the welfare state, more than 90 per cent of Swedish industry remains in private hands, often owned and controlled, in an extraordinary degree of concentration, by only 15 families and two investment trusts. The percentage, however, understates the degree of government influence through high taxes, the investment fund policy contracyelical absorbtion and release of capital funds and the rapid expansion of the public sector to a point where public consumption and investment account for 30 per cent of national f.antL CC6 STOCKHOLM Swedish economic policy, of perennial interest to economic planners around the world, is moving toward greater government influence over the private sector. This development has been overshadowed by controversy over whether Krister Wick-man, the economics minister, said after the September elections that the Social Democratic government aspired to nationalize 25 per cent of Swedish industry. Wickman denied the remark and said such goals serve no useful purpose. However, far from repudiating increased government activity, the minister confirmed the government's intent to play a bigger business role, whatever the percentage. Rather than large-scale nationalization, the idea would be to expand government industries or start new ones unless private companies let the government help shape their capital programs to achieve such social goals as development of northern Sweden, or such industrial goals as advanced technology development. The rationale is that in Sweden's high-wage, privately run economy, dependent as it is on specialization and international competitiveness, the government has a special responsibility to direct and stimulate Innovation in research and technology. Whether this is more than just talk or more than is being done in other capitalist countries is unclear. Sven Weden, leader of the opposition Liberal Party, said that "it's a little more serious than some people think." Yet business leaders are cooperative and outwardly un-distrubed at what one observer calls "letting the fox into the chicken coop." Said a bank economist: "I'm quite convinced they don't have any strategy for taking over any key sector of the economy." Wickman, an intense 44-ycar-old political leader, and chief economic policymaker, is not too precise in the details of what he calls "the new in DRESSES ea. Skirts (Plain) ww Jackets- Beautifully Dry Cleaned and Pressed Plain Beautifully dry cleaned and Pressed 99 Blouses Sweaters Shorts 1 1.00 2 foi 2 56 for No Knits or Bonded FAMILY FLAT WORK 10 lbs for 1.50 Min 10 lbs. - 15c ea. add lb. Beautifully Finished Men's SHIRTS 15 Beautifully Laundered and Pressed Folded or Hangers hunters! JM has just received a marvelous group of flattering beaver felt hats in black, white, beige, royal blue, red, emerald, brown or navy. 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