nationalization

¹ Cultural  

1. A government takeover of a private business.

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nationalization ² Cultural  

1. The taking over of private property by a national government.

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Explanation

Nationalization is when something that's been privately owned switches to being controlled by the government. In the United States, airport security went through nationalization in 2001, becoming a government agency. Nationalization is often viewed negatively in countries with capitalist economic systems, seen by some as a slide toward socialism or communism, in which nationalization partly serves to redistribute money among all citizens. At various times in the US, nationalization has occurred in areas like the railway system, utility companies, and banks. The Latin root word is nationem, "birth, origin, breed, or tribe," and the original meaning of nationalization was "the act of investing with a national character."

Example Sentences

That show, “Richard Wagner and the Nationalization of Feeling,” opens April 9 and runs through September.

From New York Times • Apr. 8, 2022

This is a lesson I learned while researching 19th-century party politics for my book, "The Nationalization of American Political Parties, 1880-1896."

From Salon • Aug. 18, 2020

Nationalization could allow us to review the ethical implications of their management decisions.

From Slate • Aug. 16, 2012

"Nationalization does not come without its costs or risks - but it might prove the only way to get lending flowing again if all other attempts fail," said Vicky Redwood from Capital Economics.

From Reuters • Aug. 13, 2012

Nationalization has made possible the rational regrouping of factories so that the complete process is carried out in one place, consequently saving transport.

From Russia in 1919 by Ransome, Arthur