nationalization

Nationalization is when something that's been privately owned switches to being controlled by the government. In the United States, airport security went through nationalization in 2001, becoming a government agency.

Nationalization is often viewed negatively in countries with capitalist economic systems, seen by some as a slide toward socialism or communism, in which nationalization partly serves to redistribute money among all citizens. At various times in the US, nationalization has occurred in areas like the railway system, utility companies, and banks. The Latin root word is nationem, "birth, origin, breed, or tribe," and the original meaning of nationalization was "the act of investing with a national character."

Definitions of nationalization
1

n changing something from private to state ownership or control

Synonyms:
communisation, communization, nationalisation
Antonyms:
denationalisation, denationalization, privatisation, privatization
changing something from state to private ownership or control
Type of:
social control
control exerted (actively or passively) by group action

n the action of forming or becoming a nation

Synonyms:
nationalisation
Type of:
group action
action taken by a group of people

n the action of rendering national in character

Synonyms:
nationalisation
Type of:
change
the action of changing something

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