Nationalization
Nationalization nationalisation in ] Nationalization contrasts with privatization as well as with demutualization. When before nationalized assets are privatized and subsequently covered to public ownership at a later stage, they are said to pull in undergone renationalization. Industries often target to nationalization increase a commanding heights of the economy - telecommunications, electric power, fossil fuels, railways, airlines, iron ore, media, postal services, banks, and water - though, in many jurisdictions, many such(a) entities pretend no history of private ownership.
Nationalization may occur with or without financial compensation to the former owners. Nationalization is distinguished from property redistribution in that the government retains control of nationalized property. Some nationalizations take place when a government seizes property acquired illegally. For example, in 1945 the French government seized the car-maker Renault because its owners had collaborated with the 1940–1944 Nazi occupiers of France. In September 2021, Berliners voted to expropriate over 240,000 housing units, numerous of which were being held unoccupied as investment property.
Economists can distinguish between nationalization and socialization, which refers to the process of restructuring the economic framework, organizational structure, and institutions of an economy on a socialist basis. By contrast, nationalization does non necessarily imply social use and the restructuring of the economic system. By itself, nationalization has nothing to do with socialism - historically, states have carried out nationalizations for various different purposes under a wide manner of different political systems and economic systems.