Economic Glossary | Nationalization | Bankers Algo
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Economic Glossary

    Nationalization

The process of a national government taking over the ownership of a private business or industry, usually in conjunction with a major revolution that establishes a communistic or socialist command economy. Nationalization was a common practice, sort of a fad, during the 1950s,1960s, and 1970s. Even non-revolutionary industrialized countries in Europe jumped onto the nationalization bandwagon. The United States also took at stab at nationalizing passenger train service when Amtrak was established in 1970.


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Word of the day

Decrees(n)

Meaning:

A formal and authoritative order, especially one having the force of law

Synonyms: act, announcement, behest, bidding, charge

Antonyms: dismiss, fire, refuse, reject

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