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MESLEKİ İNGİLİZCE II KISIM 8
Nationalization • Nationalization (or nationalisation) is the process of transforming private assets into public assets by bringing them under the public ownership of a national government or state.
nationalization • Nationalization usually refers to private assets or assets owned by lower levels of government, such as municipalities, being transferred to the state. The opposites of nationalization are privatization and demutualization.
nationalization • When previously nationalized assets are privatized and subsequently returned to public ownership at a later stage, they are said to have undergone renationalization. Industries that are usually subject to nationalization include transport, communications, energy, banking, and natural resources.
nationalization • Nationalization may occur with or without compensation to the former owners. Nationalization is distinguished from property redistribution in that the government retains control of nationalized property.
nationalization • Some nationalizations take place when a government seizes property acquired illegally. For example, in 1945 the French government seized the car-makers Renault because its owners had collaborated with the Nazi occupiers of France.
nationalization • Nationalization is to be distinguished from "socialization", which refers to the process of restructuring the economic framework, organizational structure, and institutions of an economy on a socialist basis.
nationalization • By contrast, nationalization does not necessarily imply social ownership and the restructuring of the economic system. By itself, nationalization has nothing to do with socialism, having been historically carried out for various different purposes under a wide variety of different political systems and economic systems.
nationalization • However, nationalization is, in most cases, opposed by laissez faire capitalists as it is perceived as excessive government interference in, and control of, economic affairs of individual citizens.
Privatization • Privatization (also spelled privatisation) can mean different things including moving 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 privatized; 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, and prison management.
Privatization • Another definition is the purchase of all outstanding shares of a publicly traded company by private investors, or the sale of a stateowned enterprise or municipally owned corporation to private investors.
Privatization • In the case of a for-profit company, the shares are then no longer traded at a stock exchange, as the company became private through private equity; in the case the partial or full sale of a state-owned enterprise or municipally owned corporation to private owners shares may be traded in the public market for the first time, or for the first time since an enterprise's previous nationalization.
Privatization • The second such type of privatization is the demutualization of a mutual organization, cooperative, or public-private partnership in order to form a joint-stock company.
Corporatization • Corporatization is the process of transforming state assets, government agencies, or municipal organizations into corporations. It refers to a restructuring of government and public organizations into their administration. The result of corporatization is the creation of state-owned corporations (or corporations at other government levels, such as municipally owned corporations) where the government retains a majority ownership of the corporation's stock.
Corporatization • In contrast, the term may also refer to the construction of state corporatism, where state-owned corporations are created and delegated public joint-stock, publicly listed companies, in order to introduce corporate and business management techniques to social tasks resembling corporate nationalism as an alternative to privatization.
Corporatization • Corporatization can also refer to non-corporate entities like universities or hospitals becoming corporations, or taking up management structures or other features and behaviors employed by corporations.