What is NATIONALIZATION?

A government takes over a privately owned corporation, industry, and resource, often without compensation, but sometimes with. (1) Preventing unfair exploitation and large-scale labor layoffs, (2) Distributing income from national resources fairly, and (3) retaining the ability to generate wealth in public control are all typical reasons for nationalization.

More On This Topic



Link to This Definition
Did you find this definition of NATIONALIZATION helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary