When the government controls the private sector, it is called nationalization. Most countries have experienced nationalization at some point in their history. U.S. Postal Service, for example, is a national industry controlled entirely by the US government. In the event of a financial loss to the industry, the government and its people suffer, and in the event of a financial gain, the government benefits. Socialist governments have the power to nationalize not only individual institutions but the industry as a whole, no matter how they operate. The central government may have chosen or forced the industry to nationalize for many reasons.

Nationalization is the act of taking an industry or natural resource into public ownership. It is typically undertaken by governments that seek to take control of economic decisions or industries that are seen as critical to maintaining national security.

Nationalization is a term used to describe the process of taking public ownership of an industry, resource, or company. There are various definitions for nationalization but it generally refers to the process of taking control from a private entity and giving it to a state-owned enterprise or governmental body.

Nationalisation refers to when the government starts to get ownership of companies, as well as resources, thus leading to much more public ownership. This can easily lead to consdierable and unhealthy control of certain aspects of the economy as well as of certain industries.