1970s Chilean nationalization

In the 1970s, Chile under President Salvador Allende pursued a policy of nationalization, primarily targeting major industries like copper mining, which was crucial for the country's economy. This meant transferring ownership from foreign or private companies to the government, with the goal of controlling resources for the benefit of all citizens. The move aimed to reduce foreign influence, promote social equality, and fund social programs. However, it also led to economic challenges, international tensions, and political polarization. Despite efforts to improve national wealth and independence, the policy was controversial and contributed to a period of political instability in Chile.