Industrial nationalization

Industrial nationalization refers to the process where a government takes control of key industries or companies that were previously owned privately. This is often done to ensure essential services or resources—like steel, coal, or transportation—are managed in the public interest, promote economic stability, or reduce private monopolies. The government can then direct production, set prices, and invest in infrastructure, aiming to benefit society as a whole rather than private shareholders. Nationalization can be controversial, as it involves a shift from private enterprise to state ownership and control.