nationalization

The process of bringing the assets of a business into the ownership of the state. Examples of industries nationalized in the past in the UK include the National Coal Board and British Rail. Historically, nationalization has been achieved through compulsory purchase, although this need not necessarily be the case. Nationalization has often been pursued as much for political as economic ends and the economic justifications themselves are varied. One argument for nationalization is that if a company possesses a natural monopoly, then it should not be run for private profit; another is that certain industries are strategically important for the nation. In the 1980s and 1990s Conservative governments reversed the nationalizations of the post-war Labour governments with a series of privatization measures, on the grounds that competition would increase efficiency and reduce prices. Even where this has arguably not proved to be the case, Labour administrations since 1997 have been reluctant to renationalize.

Big dictionary of business and management. 2014.

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  • Nationalization — Na tion*al*i*za tion, n. The act of nationalizing, or the state of being nationalized. [1913 Webster] …   The Collaborative International Dictionary of English

  • nationalization — index condemnation (seizure) Burton s Legal Thesaurus. William C. Burton. 2006 …   Law dictionary

  • nationalization — (n.) 1801, act of rendering national in character, from NATIONALIZE (Cf. nationalize) + ATION (Cf. ation). Meaning act of bringing (property) under control of the national government is from 1874 …   Etymology dictionary

  • nationalization — (Amer.) na·tion·al·i·za·tion || ‚næʃnÉ™lÉ™ zeɪʃn / laɪ n. naturalization; formation of country; making national (also nationalisation) …   English contemporary dictionary

  • Nationalization — Not to be confused with Naturalization. Part of a series on Economic systems Ideological systems …   Wikipedia

  • nationalization — See nationalize. * * * ▪ economic policy       alteration or assumption of control or ownership of private property by the state. It is historically a more recent development than and differs in motive and degree from “expropriation” or “eminent… …   Universalium

  • Nationalization — Refers to the process of a government taking control of a company or industry, which can occur for a variety of reasons. When nationalization occurs, the former owners of the companies may or may not be compensated for their loss in net worth and …   Investment dictionary

  • nationalization — A government takeover of a private company. Bloomberg Financial Dictionary * * * nationalization na‧tion‧al‧i‧za‧tion [ˌnæʆnəlaɪˈzeɪʆn ǁ nələ ] also nationalisation noun [countable, uncountable] ECONOMICS the act of bringing a company or… …   Financial and business terms

  • nationalization — The process of bringing the assets of a business into the ownership of the state. Examples of industries nationalized in the past in the UK include the National Coal Board and British Rail. Historically, nationalization has been achieved through… …   Accounting dictionary

  • nationalization — Gen Mgt the taking over of privately owned companies by government. Nationalization has strong political connotations. Recent global political trends have moved away from nationalization by introducing more competition and liberalization into… …   The ultimate business dictionary

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