Nationalization

usgb/ˌnæʃnələˈzeɪʃn/
noun

The act of transferring the ownership of a private business or industry to the government.

The nationalization of the health care industry caused a lot of change in the country's economy.
Visual representation of "nationalization" - The act of transferring the ownership of a private business or industry to the government.

Often appears as...

  • nationalization of industries
  • nationalization process

Usage tips

Academic

Definition 1 of 1
Visual representation of "nationalization"
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Government Control

Nationalization usually implies the government gains direct control over an industry or service.

Illustration for Government Control
After the nationalization of railways, the government set the ticket prices.
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Not Always Popular

Nationalization can be controversial, with strong opinions both for and against it.

Illustration for Not Always Popular
Nationalization of the banks divided public opinion.
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Economic Impact

The term often involves significant changes to a country's economy and can affect employment.

Illustration for Economic Impact
The nationalization of steel factories aimed to stabilize jobs.
Visual representation of the word "Nationalization"

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