What is the meaning of the term government nationalization of industry

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18-03-2015
Social Studies

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What is the meaning of the term government nationalization of industry

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sirdayan sirdayan · Answer 1 · 2015-03-19T11:00:24-04:00

sirdayan sirdayan

19-03-2015

This is where the federal government takes over a specific industry and keeps it under federal control, rather than it being part of the flow of the economy and the private sector. This can be seen in Soviet Russia, where the government nationalized nearly everything to make everything equal, but the plan failed.

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