WORLD HISTORY

Detailed explanation-1: -With nationalization, control that once resided within a corporation now lies with the government. When companies that were once part of the private sector are transformed into a public good, it is often contentious and met with opposition. The income that once belonged to shareholders now belongs to the government.

Detailed explanation-2: -Nationalization meaning is defined as the action taken by the state government to take ownership of private companies. Here, the government does not compensate for the losses the company has to endure as the state seizes all the assets and belongings of the company.

Detailed explanation-3: -Nationalization (nationalisation in British English) is the process of transforming privately-owned assets into public assets by bringing them under the public ownership of a national government or state.

Detailed explanation-4: -Nationalization can occur for many reasons like saving a struggling industry or organization, economic profit for the government, a means to bring stability in a developing economy, or as a way for progress or growth. The government can also seize control over an industry as a punishment.

Detailed explanation-5: -Privatization is usually done as voluntary trade, where interested private investors can purchase the privatized good from the government. However, nationalization is often forceful, and private businesses are simply robbed of their property by a government decree.