nationalization

Meanings

• Noun

  The act or process of a government taking ownership and control of the economy of an industry or a particular sector.

  - "The nationalization of the steel industry in the 1940s brought about significant economic changes."
  - "The government announced its plans for the nationalization of the banks during the financial crisis."

• Noun

  The process by which a country asserts control over a region or territory.

  - "The nationalization of Tibet by China in 1950 is a contentious issue."
  - "The nationalization of Kosovo by Serbia in 1999 led to an international crisis."

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Antonyms

privatisation , privatization

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Synonyms

patriotisation

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Rhymes

Words rhyming with nationalization
colonization , organization , regionalization

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Variants

List of all variants of nationalization that leads to same result
nationalization , nationalizations , nationalize , nationalized , nationalizer , nationalizers , nationalizes , nationalizing

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Etymology

origin and the way in which meanings have changed throughout history.

From the Latin word 'nationalis', meaning 'belonging to a nation'.

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Trivia

Any details, considerations, events or pieces of information regarding the word

1. The first major instance of nationalization occurred in the United States in 1862, when President Abraham Lincoln nationalized the railroads to ensure their continued operation during the Civil War.

2. The most famous nationalization in modern history is likely the nationalization of the British coal, iron, and steel industries in 1946, which was carried out by the Labour Party under Prime Minister Clement Attlee.

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Related Concepts

informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to

1. Socialism: Nationalization is a key component of socialist economic systems, where the means of production are owned and controlled by the state.

2. Communism: Nationalization is a central tenet of communist economic theory, which advocates for the complete abolition of private property and the collective ownership of the means of production.

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Culture

Any cultural, historical, or symbolic significance of the word. Explore how the word has been used in literature, art, music, or other forms of expression.

Nationalization has been a significant political and economic concept throughout history. It has been the subject of numerous literary works, including novels and political treatises, and has been depicted in art and music. For example, the novel 'Animal Farm' by George Orwell explores the concept of nationalization in the context of a farm collective.

How to Memorize "nationalization"

1. visualize
   

   - To visualize nationalization, imagine a government taking control of an industry or region and assuming ownership and management of its assets.

2. associate
   

   - Associate the term 'nationalization' with the idea of government control and ownership of industries or territories.

3. mnemonics
   

   - Use the mnemonic 'Nations Act' to remember that nationalization is the act of a government taking control of something.

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