Definition, Meaning & Synonyms
nationalize
verb
/ˈnæʃ.ən.əˌlaɪz/
Definition
To transfer a privately owned enterprise, industry, or resource into public ownership or control by the government.
Examples
- The government decided to nationalize the oil industry to better control its resources.
- During the revolutionary period, many schools were nationalized to provide free education for all.
- The debate over whether to nationalize the healthcare system has been a contentious topic for years.
Meaning
Nationalizing means the government takes over a business or industry that was previously owned by private individuals or companies. This process is often done to ensure public control of essential services or to achieve economic or social objectives.
Synonyms
- Take over
- State ownership
- Convert to public control
