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Also known as nationalisation, renationalization
Nationalization (nationalisation in British English) is the process of transforming privately owned assets into public assets by bringing them under the public ownership of a national government or state. Nationalization contrasts with privatization and with demutualization. When previously nationalized assets are privatized and subsequently returned to public ownership at a later stage, they are said to have undergone renationalization (or deprivatization). Industries often subject to nationalization include telephones, electric power, fossil fuels, iron ore, railways, airlines, media, posta
AI overview
Nationalization is when a government takes control of privately owned businesses or resources and makes them publicly owned instead of privately owned. This matters because it represents a major shift in who controls important industries and assets, and it's often done for industries like utilities, transportation, and energy that affect many people's lives.
AI-generated from the Wikipedia summary — may contain errors.
Wikidata facts
- Image
- Décret de nationalisation des locaux de couvent Sainte-Cécile (1793) (Nationalization decree affecting the premises of the convent of Sainte-Cécile), Grenoble, France.jpg
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