nationalization of property is called democracy is that true or false?
Answers
Answer:
Nationalization (or nationalisation) is the process of transforming privately-owned assets into public assets by bringing them under the public ownership of a national government or state.[1] Nationalization usually refers to private assets or to assets owned by lower levels of government (such as municipalities) being transferred to the state.[citation needed] Nationalization contrasts with privatization and with demutualization. When previously nationalized assets are privatized and subsequently returned to public ownership at a later stage, they are said to have undergone renationalization. Industries often subject to nationalization include the commanding heights of the economy - telecommunications, electric power, fossil fuels, railways, airlines, iron ore, media, postal services, banks, and water - though, in many jurisdictions, many such entities have no history of private ownership.
Nationalization may occur with or without compensation to the former owners. Nationalization is distinguished[by whom?] from property redistribution in that the government retains control of nationalized property. Some nationalizations take place when a government seizes property acquired illegally. For example, in 1945 the French government seized the car-maker Renault because its owners had collaborated with the 1940-1944 Nazi occupiers of France.[2]
Economists can distinguish between nationalization and socialization, which refers to the process of restructuring the economic framework, organizational structure, and institutions of an economy on a socialist basis. By contrast, nationalization does not necessarily imply social ownership and the restructuring of the economic system. By itself, nationalization has nothing to do with socialism - historically, states have carried out nationalizations for various different purposes under a wide variety of different political systems and economic systems.[3]
Compensation
Political support
Economic analysis
Expropriation
Marxist theory
See also
References
External links
Answer:
False