nationalise

Nationalise is a verb describing the transfer of ownership and control of an asset, industry, or enterprise from private to public hands, typically placing it under government ownership or operation. The transfer may be achieved through expropriation or compulsory purchase, often with compensation, and the asset is then run as a state‑owned enterprise or by a government agency. The term is common in British English; American English uses nationalize, while nationalisation or nationalization refer to the process or act.

Nationalisation is typically undertaken to ensure the provision of essential services, pursue strategic or social goals, curb private monopolies, or stabilize prices and employment during crises. It is usually effected by legislation and may follow elections or policy shifts. Nationalised entities may be managed directly by the state or through government-owned corporations, with pricing, investment, and performance monitored by public authorities.

Economic effects and debates about nationalisation focus on trade-offs between public accountability and efficiency. Supporters argue that state ownership can secure universal access, long‑term planning, and protection of public interests. Critics warn of higher fiscal costs, reduced competition, slower innovation, and political interference. In practice, many countries combine public ownership with regulatory frameworks, and some nationalised industries have later undergone privatization or reform.

Historical usage varies by country. In the United Kingdom after World War II, several sectors—such as coal, railways, gas, electricity, and the Bank of England—were nationalised, with subsequent waves of privatization in later decades. Nationalisation remains a recurring policy option, chosen or rejected according to political, economic, and social priorities.