Definition of Nationalization:
The transfer of a major branch of industry or commerce from private to state ownership or control.
Nationalization is more common in developing countries. Privatization, which is the transfer of government-run operations into the private business sector, occurs more frequently in developed countries.
Takeover of privately owned corporations, industries, and resources by a government with or without compensation. Common reasons for nationalization include (1) prevention of unfair exploitation and large-scale labor layoffs, (2) fair distribution of income from national resources, and (3) to keep means of generating wealth in public control.
Nationalization refers to the action of a government taking control of a company or industry, which generally occurs without compensation for the loss of the net worth of seized assets and potential income. The action may be the result of a nation's attempt to consolidate power, resentment of foreign ownership of industries representing significant importance to local economies or to prop up failing industries.
Synonyms of Nationalization
Americanization, Fabian socialism, Fabianism, Marxian socialism, Marxism, Saint-Simonism, Acculturation, Admission, Adoption, Affiliation, Angary, Annexation, Annexure, Assimilation, Attachment, Citizenship by naturalization, Citizenship papers, Collective ownership, Collectivism, Collectivization, Commandeering, Communalization, Communization, Confiscation, Culture shock, Distraint, Distress, Eminent domain, Execution, Expropriation, Garnishment, Guild socialism, Impoundment, Impressment, Levy, Naturalization, Naturalized citizenship, Papers, Phalansterism, Public ownership, Right of angary, Sequestration, Socialism, Socialization, State socialism, Utopian socialism
How to use Nationalization in a sentence?
- Nationalization often happens in developing countries and can reflect a nation's desire to control assets or to assert its dominance over foreign-owned industries.
- Nationalization is the process of taking privately-controlled companies, industries, or assets and putting them under the control of the government.
- The nationalization of the railroads.
- Often, the companies or assets are taken over and little to no compensation is provided to the previous owners.
- If you are buying a foreign company you should know the entire nationalization process before hand so you are ready for it.
- Nationalization is different from privatization, in which government-run companies are moved into the private business sector.
- To become a citizen, she had to go through the nationalization process, which would take some time and some effort.
- The nationalization of the company was unexpected but we prepared for this moment so we simply worked our plan and adapted.
Meaning of Nationalization & Nationalization Definition