privatization vs. nationalization

Privatization involves transferring ownership of businesses or services from the government to private companies or individuals, aiming to increase efficiency, competition, and innovation. Nationalization, on the other hand, is when the government takes control of private businesses or industries, often to ensure public access, control resources, or stabilize the economy. Essentially, privatization moves assets from public to private hands, while nationalization shifts them from private to public control. Both strategies are used to influence economic development, public welfare, or resource management, depending on political and economic goals.