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Nationalization can be instituted against other entities besides businesses.
'''Nationalization''' means the permanent takeover of a private business by the government. It can be voluntary, with full payment to the previous owners, or forced, with no payment or a mock payment in worthless bonds.
'''Nationalization''' means the permanent takeover of a private institutions by the government. It can be voluntary, with full payment to the previous owners, or forced, with no payment or a mock payment in worthless bonds.
[[Socialist]] governments nationalized industry in [[Great Britain]], [[France]] and other countries after [[World War II]]. In most cases they have subsequently been privatized, that is, returned to private ownership.
[[Socialist]] governments nationalized industry in [[Great Britain]], [[France]] and other countries after [[World War II]]. In most cases they have subsequently been privatized, that is, returned to private ownership.