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nationalization

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nationalization

Policy of bringing a country's essential services and industries under public ownership. It was pursued, for example, by the UK Labour government 1945–51. Assets in the hands of foreign governments or companies may also be nationalized; for example, Iran's oil industry (see Abadan), the Suez Canal, and US-owned fruit plantations in Guatemala, all in the 1950s.



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You have a very different opinion of our boasted civilization now from that which you held when I broke your wall down and invited those Land Nationalization zealots to march across your pleasure ground.
An Unsocial Socialist by Shaw, George Bernard View in context
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