Nationalization

Nationalization or nationalisation is the act of taking assets into public ownership/state ownership. Usually it refers to private assets being nationalized, but sometimes it may be assets owned by other levels of government, such as municipalities. Similarly, the opposite of nationalization is usually privatization, but sometimes it may be municipalization.

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Timeline

1946 The Bank of England nationalized

1947 British mines nationalized

1957 In Indonesia, Sukarno announces nationalization of 246 Dutch businesses.

1972 Iraq nationalizes the Iraq Petroleum Company.

Encyclopedia

Nationalization or nationalisation is the act of taking assets into public ownership/state ownership. Usually it refers to private assets being nationalized, but sometimes it may be assets owned by other levels of government, such as municipalities. Similarly, the opposite of nationalization is usually privatization, but sometimes it may be municipalization.