nationalization

Meanings

1. 1
   noun

   the transfer of a privately owned industry, service, or asset into ownership or control by a national government

   The party proposed the nationalization of the railways so that fares and investment would be set publicly.

Formed from nationalize plus -ation. National derives through French from Latin natio, 'birth, people, or nation.' Nationalization acquired its central political-economic sense as modern states took industries and services from private into public ownership.

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