Nationalization and State socialism

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Difference between Nationalization and State socialism

Nationalization vs. State socialism

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. State socialism is a classification for any socialist political and economic perspective advocating state ownership of the means of production either as a temporary measure in the transition from capitalism to socialism, or as characteristic of socialism itself.

Private property

Private property is a legal designation for the ownership of property by non-governmental legal entities.

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Reformism

Reformism is a political doctrine advocating the reform of an existing system or institution instead of its abolition and replacement.

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Social democracy

Social democracy is a political, social and economic ideology that supports economic and social interventions to promote social justice within the framework of a liberal democratic polity and capitalist economy.

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Social ownership

Social ownership is any of various forms of ownership for the means of production in socialist economic systems, encompassing public ownership, employee ownership, cooperative ownership, citizen ownership of equity, common ownership and collective ownership.

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Socialism

Socialism is a range of economic and social systems characterised by social ownership and democratic control of the means of production as well as the political theories and movements associated with them.

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Socialist state

A socialist state, socialist republic or socialist country (sometimes workers' state or workers' republic) is a sovereign state constitutionally dedicated to the establishment of socialism.

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State capitalism

State capitalism is an economic system in which the state undertakes commercial (i.e. for-profit) economic activity and where the means of production are organized and managed as state-owned business enterprises (including the processes of capital accumulation, wage labor and centralized management), or where there is otherwise a dominance of corporatized government agencies (agencies organized along business-management practices) or of publicly listed corporations in which the state has controlling shares.

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State ownership

State ownership (also called public ownership and government ownership) is the ownership of an industry, asset, or enterprise by the state or a public body representing a community as opposed to an individual or private party.

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Statism

In political science, statism is the belief that the state should control either economic or social policy, or both, to some degree.

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