Acquiring of ownership of industrial property processes by a national state or by a lesser political entity within a nation.
Implementation:
In the former USSR following the Russian Revolution; railroads of the UK; liquor stores of certain states in the USA; and the banks of India are all examples of nationalization.
Claim:
Nationalization may be necessary to maintain non-viable enterprises which are required for national defence purposes.
Counter Claim:
Nationalization leads to highly inefficient businesses and they are often very corrupt.