Nationalisation in the context of "Canning Club"

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⭐ Core Definition: Nationalisation

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. 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 (or deprivatization). Industries often subject to nationalization include telephones, electric power, fossil fuels, iron ore, railways, airlines, media, postal services, banks, and water (sometimes called the commanding heights of the economy), and in many jurisdictions such entities have no history of private ownership.

Nationalization may occur with or without financial compensation to the former owners. Nationalization is distinguished 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.

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👉 Nationalisation in the context of Canning Club

The Canning Club is a gentlemen's club based in London, formerly named the Argentine Club, founded in 1911, and is for those with a particular link to, or special interest in, Argentina and other Latin American countries.

The club was originally established for nationals of Argentina, and much of its income was derived from Argentine-based British businesses. When these businesses were nationalised by Juan Domingo Perón from the 1940s, the club was deprived of its main source of revenue. Adapting to the situation, it redefined its remit more broadly to Latin America in general. In 1948, it was renamed as the Canning Club, in honour of George Canning, who had strong links to Latin America.

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Nationalisation in the context of Socialist movement

The history of socialism has its origins in the Age of Enlightenment and the 1789 French Revolution, along with the changes that brought, although it has precedents in earlier movements and ideas. The Communist Manifesto was written by Karl Marx and Friedrich Engels in 1847-1848 just before the Revolutions of 1848 swept Europe, expressing what they termed scientific socialism. In the last third of the 19th century parties dedicated to democratic socialism arose in Europe, drawing mainly from Marxism. The Australian Labor Party was the first elected socialist party when it formed government in the Colony of Queensland for a week in 1899.

In the first half of the 20th century, the Soviet Union and the communist parties of the Third International around the world, came to represent socialism in terms of the Soviet model of economic development and the creation of centrally planned economies directed by a state that owns all the means of production, although other trends condemned what they saw as the lack of democracy. The establishment of the People's Republic of China in 1949, saw socialism introduced. China experienced land redistribution and the Anti-Rightist Movement, followed by the disastrous Great Leap Forward. In the UK, Herbert Morrison said that "socialism is what the Labour government does" whereas Aneurin Bevan argued socialism requires that the "main streams of economic activity are brought under public direction", with an economic plan and workers' democracy. Some argued that capitalism had been abolished. Socialist governments established the mixed economy with partial nationalisations and social welfare.

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Nationalisation in the context of History of rail transport in Pakistan

Rail transport in Pakistan began in 1855 during the British Raj, when several railway companies began laying track and operating in present-day Pakistan. The country's rail system has been nationalised as Pakistan Railways (originally the Pakistan Western Railway). The system was originally a patchwork of local rail lines operated by small private companies, including the Scinde, Punjab and Delhi Railways and the Indus Steam Flotilla. In 1870, the four companies were amalgamated as the Scinde, Punjab & Delhi Railway. Several other rail lines were built shortly thereafter, including the Sind–Sagar and Trans–Baluchistan Railways and the Sind–Pishin, Indus Valley, Punjab Northern and Kandahar State Railways. These six companies and the Scinde, Punjab & Delhi Railway merged to form the North Western State Railway in 1886. It was later renamed as North-Western Railway in 1905, and few decades following the independence of Pakistan in 1947, the North Western Railway which mostly became part of Pakistani territory was renamed Pakistan Western Railway in 1961. It was later renamed as Pakistan Railways in 1974.

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Nationalisation in the context of Bombay Presidency

The Bombay Presidency, officially called the Presidency of Bombay until 1937, later the Bombay Province, also called Bombay and Sind (1843–1936), was an administrative subdivision (province) of British India, with its capital in the city that came up over the seven islands of Bombay. The first mainland territory was acquired in the Konkan region with the Treaty of Bassein. Poona was the summer capital.

The Bombay Province has its beginnings in the city of Bombay that was leased in fee tail to the East India Company, via the Royal Charter of 27 March 1668 by King Charles II of England, who had in turn acquired Bombay on 11 May 1661, through the dowry by way of his marriage treaty with princess Catherine De Braganza, daughter of John IV of Portugal. The English East India Company transferred its Western India headquarters from Surat in the Gulf of Cambay after it was sacked, to the relatively safe Bombay Harbour in 1687. The province was brought under direct rule along with other parts of British India through Pitt's India Act, after the nationalisation of the East India Company. Major territorial acquisitions were made by the company after Anglo-Maratha Wars when the whole of the Peshwa's dominions and much of the Gaekwad's sphere of influence were annexed to the Bombay Presidency in stages up until 1818. Aden including Socotra were placed under Bombay in 1839, Sind was annexed by the company in 1843 after defeating the Talpur dynasty in the Battle of Hyderabad.

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Nationalisation in the context of Post-war consensus

The post-war consensus, sometimes called the post-war compromise, was the economic order and social model of which the major political parties in post-war Britain shared a consensus supporting view, from the end of World War II in Europe in 1945 to the late-1970s. It ended during the governance of Conservative Party leader Margaret Thatcher. The consensus tolerated or encouraged nationalisation, strong trade unions, heavy regulation, high taxes, and an extensive welfare state.

The notion of a post-war consensus covered support for a coherent package of policies that was developed in the 1930s and promised during the Second World War, focused on a mixed economy, Keynesianism, and a broad welfare state. Historians have debated the timing of the weakening and collapse of the consensus, including whether it ended before Thatcherism arrived with the 1979 general election. They also suggest that the notion might not have been as widely supported as some claim, and that the word consensus might be inaccurate to describe the period. Embedded liberalism has been applied to describe the post-war consensus on a global stage, around the same period from World War II to the crisis of the 1970s, and contrast it with the paradigm shift led by neoliberalism that followed.

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Nationalisation in the context of Galactic Empire (Star Wars)

The Galactic Empire, also known simply as the Empire, is a fictional autocracy featured in the Star Wars franchise. Introduced in the 1977 film Star Wars, it is the main antagonistic faction of the original trilogy, which also includes The Empire Strikes Back (1980) and Return of the Jedi (1983). An oppressive dictatorship with a complicated bureaucracy, the Galactic Empire seeks the rule and social control of every planet and civilization within the galaxy, based on anthropocentrism, nationalisation, state terrorism, power projection, and threat of lethal force.

The Galactic Empire's rise was not a violent takeover by force, but rather a consolidating unprecedented and unchecked power in the Chancellor via a calculated Gleichschaltung-like dismantling of the galaxy's most powerful institutions by undermining the public's faith in these institutions, rewriting constitutional foundations, controlling the Jedi Council, weakening the Galactic Senate, court packing the Supreme Court and the appointment of loyal Governors. At its peak, the Galactic Empire sprawls over much of the known Star Wars galaxy, which consists of millions of habitable star systems and billions more fringe colonies, shipyards, fortress worlds, and outer territories. The Empire's origins are depicted in the prequel film Revenge of the Sith (2005), where it replaces the Galactic Republic at the end of the Clone Wars orchestrated by the Republic's Supreme Chancellor, Palpatine. Palpatine is also secretly the Sith Lord Darth Sidious, who masterminds the war to destroy the Jedi and restore the Sith to power.

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Nationalisation in the context of Second Republic of Uganda

The Second Republic of Uganda existed from 1971 to 1979, when Uganda was ruled by Idi Amin's military dictatorship. Amin's rule formally came to an end with the Uganda-Tanzania War, which ended with Tanzania occupying Uganda and Amin fleeing into exile.

The Ugandan economy was devastated by Idi Amin's policies, including the expulsion of Asians, the nationalisation of businesses and industry, and the expansion of the public sector. The real value of salaries and wages collapsed by 90% in less than a decade. The number of people killed as a result of his regime is unknown; estimates from international observers and human rights groups range from 100,000 to 500,000.

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