The private enterprise sector: before and after March 11th, 1975

Abstract

This article begins with presenting an inventory of the main financial participations of the Portuguese State in the capital of those enterprises inherited from the political regime overthrown in April 25^th, 1974. At the same time it makes a critical analysis to the management of that public patrimony up to that date. Then it describes the composition of the present private enterprise sector — resulting from the nationalization of the means of production unchained after March 11^th, 1975 —, quantifies its weight upon the national economy and establishes international comparisons. In the last part it evaluates the State's recent activity briefly, taking it as the activity from the direct responsible for the management of a significant share of the national productive apparatus. In a quick account on the activity of public and nationalized enterprises, one remarks that the lack of a centralized planning — being translated into a lack of establishing targets to the enterprises, namely as far as the volume of investments and the quantities to be produced are concerned— led to individual decisions, the superposition of interests and, some times, the sharpening of the competition between the enterprises. Concerning the enterprises with the State's financial participation and control, the logic underlying the actuation of old private economic groups went on and mark their working deeply.