Home > Terms > English, UK (UE) > Nationalisation
Nationalisation
The act by which government takes over a business enterprise or service that has formerly been privately owned. Opponents of nationalisation say it is inefficient because it leads to overcentralization, and is costly. Supporters say that nationalised industries are easier to coordinate and can be expanded more easily and efficiently.
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- Part of Speech: noun
- Synonym(s):
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- Industry/Domain: Politics
- Category: Political Science
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