nationalization
n. uncountablen. the act of a government taking control of a company or industry that was once owned by private people. This usually happens to make sure a service is available to everyone.
n. the process by which a government takes ownership of an industry, business, or property from private entities. Often used in the context of public utilities or strategic sectors.
The government announced the nationalization of the railway system.
Economists debated whether the nationalization of the energy sector would lead to better service for the public or less efficiency.
The sudden nationalization of the banking sector sent shockwaves through the international market, as investors feared a loss of property rights and a shift toward state-controlled capitalism.
From national + -ization.