It is widely believed that big business firms collectively own the preponderance of America’s wealth and are steadily expanding their share. The fact… - Neil H. Jacoby

The competition of government oil companies with private enterprises was often buttressed by monopoly privileges, public preferences, low-priced capital, special tax benefits, or freedom from the commercial obligation to earn a normal return on investment. These government companies, regardless of whether they had complete or partial monopolies of oil production and trade in their own countries, were part of the structure of the foreign oil industry. They could not be dismissed as ‘noncompetitive’ with private oil enterprises.

Motivated partly by the decision to convert its navy from coal to oil, the British government ultimately acquired a major interest in what was then the only oil-producing company in the Middle East.

Utopian critics reject both capitalism and authoritarian socialism and seek to establish new social orders based upon different human values.They believe that human nature can be radically changed. Individualistic striving for material gain is to be replaced by cooperative efforts to elevate the moral and cultural character of society. Wealth and income are to be shared according to need rather than according to productivity—an ideal not yet realized in any of the socialist countries. American-style capitalism and Soviet-style socialism equally err, they contend, in having hierarchical structures and in stressing material rewards; the difference between them are not significant.