Question

Difference between rationalization and nationalization

Answer 1

Rationalisation is a process or measure adapted in order to increase efficiency of a particular industry comprising of different industrial units. On the other hand, nationalisation is a policy of the Government to take over and manage the affairs of an industry.



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Answer 2

Answer:

Explanation:

Rationalisation is a process focused on improving the efficiency of a particular industry comprising of different industrial units. Nationalisation is a policy to takeover and manage the workings of an industry by the government. Rationalisation aims to eliminate wasteful competition in order to organise the industry on rational basis. Nationalism aims to eliminate exploitation of the society by privately managed organisations. In rationalism the measures to be adapted are planned by the individuals or group of individuals, where as in nationalism the process of planning is carried by the government.