Nationalization in the context of "Rover Company"

Play Trivia Questions online!

or

Skip to study material about Nationalization in the context of "Rover Company"

Ad spacer

⭐ Core Definition: Nationalization

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.

↓ Menu

>>>PUT SHARE BUTTONS HERE<<<
In this Dossier

Nationalization in the context of Sudanese Greeks

The Sudanese Greeks, or Greeks in Sudan, are ethnic Greeks from modern-day Sudan; they are small in number (estimated at around 150 in 2015), but still a very prominent community in the country. Historically, this diverse group has played a significant role in the political, economic, cultural, and sporting life of Sudan, as they have been one of the few European immigrant communities of considerable size and economic power.

Following cultural exchanges in ancient and medieval times, a few hundred Greeks – mostly military officers and traders – settled in the six decades after the 1820 Egyptian-Turkish conquest of what became modern Sudan. About one hundred of them stayed, either forcedly or deliberately, when the Ottoman occupiers were defeated by the local Mahdist forces in 1885. With the establishment of the Anglo-Egyptian Sudan in 1898, Greek merchants, administrators and artisans de facto became the stalwarts of the British-dominated colonial regime. By the time Sudan gained independence in 1956, their numbers had increased to around 6,000-7,000, but soon afterwards decreased, especially after the nationalisation of many businesses in 1969 and the introduction of Sharia law in 1983.

↑ Return to Menu

Nationalization in the context of Mixed economy

A mixed economy is an economic system that includes both elements associated with capitalism, such as private businesses, and with socialism, such as nationalized government services.

More specifically, a mixed economy may be variously defined as an economic system blending elements of a market economy with elements of a planned economy, markets with state interventionism, or private enterprise with public enterprise. Common to all mixed economies is a combination of free-market principles and principles of socialism. Alternatively, a mixed economy can refer to a reformist transitionary phase to a socialist economy that allows a substantial role for private enterprise and contracting within a dominant economic framework of public ownership. This can extend to a Soviet-type planned economy that has been reformed to incorporate a greater role for markets in the allocation of factors of production.

↑ Return to Menu

Nationalization in the context of Privatization

Privatization (rendered privatisation in British English) can mean several different things, most commonly referring to transitioning something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation when a heavily regulated private company or industry becomes less regulated. Government functions and services may also be privatised (which may also be known as "franchising" or "out-sourcing"); in this case, private entities are tasked with the implementation of government programs or performance of government services that had previously been the purview of state-run agencies. Some examples include revenue collection, law enforcement, water supply, and prison management.

Another definition is that privatization is the sale of a state-owned enterprise or municipally owned corporation to private investors; in this case shares may be traded in the public market for the first time, or for the first time since an enterprise's previous nationalization. This type of privatization can include the demutualization of a mutual organization, cooperative, or public-private partnership in order to form a joint-stock company.

↑ Return to Menu

Nationalization in the context of State capitalism

State capitalism is an economic system in which the state undertakes business and commercial economic activity and where the means of production are nationalized as state-owned enterprises (including the processes of capital accumulation, centralized management and wage labor). The definition can also include the state dominance of corporatized government agencies (agencies organized using business-management practices) or of public companies (such as publicly listed corporations) in which the state has controlling shares. The term has been used as a pejorative by Marxists, liberals and neoliberals. However, it has also served as a programmatic label for developmentalist and neomercantilist projects in reaction toimperialism.

A state-capitalist country is one where the government controls the economy and essentially acts as a single huge corporation, extracting surplus value from the workforce in order to invest it in further production. This designation applies regardless of the political aims of the state, even if the state is nominally socialist. Some scholars argue that the economy of the Soviet Union and of the Eastern Bloc countries modeled after it, including Maoist China, were state capitalist systems, and Eastern and Western commentators alike assert that the current economies of China and Singapore also constitute a mixture of state-capitalism with private capitalism.

↑ Return to Menu

Nationalization in the context of Quiet Revolution

The Quiet Revolution (French: Révolution tranquille) was a period of socio-political and socio-cultural transformation in French Canada, particularly in Quebec, following the 1960 Quebec general election. This period was marked by the secularization of the government, the establishment of a state-administered welfare state known as the état-providence, a shift in political alignment toward federalist and separatist (or sovereignist) factions (each faction influenced by Quebec nationalism), and the eventual election of a pro-sovereignty provincial government in the 1976 election. While the Quiet Revolution is often associated with the efforts of the Liberal Party of Quebec's government led by Jean Lesage (elected in 1960) and, to some extent, Robert Bourassa (elected in 1970 after Daniel Johnson of the Union Nationale in 1966), its profound impact has influenced the policies of most provincial governments since the early 1960s.

A primary change was an effort by the provincial government to assume greater control over healthcare and education, both of which had previously been under the purview of the Catholic Church. To achieve this, the government established ministries of Health and Education, expanded the public service, made substantial investments in the public education system, and permitted the unionization of the civil service. Additionally, measures were taken to enhance Quebecois control over the province's economy, including the nationalization of electricity production and distribution, the creation of the Canada/Québec Pension Plan, and the establishment of Hydro-Québec in an effort to nationalize Quebec's electric utilities. Furthermore, during this period, French Canadians in Quebec adopted the term Québécois to distinguish themselves from both the rest of Canada and France, solidifying their identity as a reformed province.

↑ Return to Menu

Nationalization in the context of Economy of the Han dynasty

The economy of the Han dynasty (206 BC – 220 AD) of ancient China experienced upward and downward movements in its economic cycle, periods of economic prosperity and decline. It is normally divided into three periods: Western Han (206 BC – 9 AD), the Xin dynasty (9–23 AD), and Eastern Han (25–220 AD). The Xin regime, established by the former regent Wang Mang, formed a brief interregnum between lengthy periods of Han rule. Following the fall of Wang Mang, the Han capital was moved eastward from Chang'an to Luoyang. In consequence, historians have named the succeeding eras Western Han and Eastern Han respectively.

The Han economy was defined by significant population growth, increasing urbanization, unprecedented growth of industry and trade, and government experimentation with nationalization. Another large component of the government is that it was run by influential families who had the most money. In this era, the levels of minting and circulation of coin currency grew significantly, forming the foundation of a stable monetary system. The Silk Road facilitated the establishment of trade and tributary exchanges with foreign countries across Eurasia, many of which were previously unknown to the people of ancient China. The imperial capitals of both Western Han (Chang'an) and Eastern Han (Luoyang) were among the largest cities in the world at the time, in both population and area. Here, government workshops manufactured furnishings for the palaces of the emperor and produced goods for the common people. The government oversaw the construction of roads and bridges, which facilitated official government business and encouraged commercial growth. Under Han rule, industrialists, wholesalers, and merchants—from minor shopkeepers to wealthy businessmen—could engage in a wide range of enterprises and trade in the domestic, public, and even military spheres.

↑ Return to Menu

Nationalization in the context of 1974 Ethiopian coup d'état

On 12 September 1974, Emperor Haile Selassie was deposed by the Coordinating Committee of the Armed Forces, Police, and Territorial Army, a military junta that consequently ruled Ethiopia as the Derg until 28 May 1991.

In February 1974, the Ethiopian Revolution was accompanied by mutinies of units of the Imperial Army, which were ignited over resentment of low payment. The Derg established the Coordinating Council of the Armed Forces in June 1974, and grew rapidly to topple the ministers of Haile Selassie under Prime Minister Endelkachew Makonnen. Upon deposing the emperor, many of his personages and Imperial family members fled to London like Crown Prince Asfaw Wossen. On 27 March 1975, the Derg officially abolished the monarchy and the Ethiopian Empire as a whole, and began implementing a Marxist-Leninist system, along with nationalizing all properties. Haile Selassie died on 27 August, with different sources attributing his death to strangulation by the order of the military government or natural causes during a prostate operation.

↑ Return to Menu