Nationalization is the process by which a government takes control of private industries or assets, converting them into public ownership. This often occurs in sectors deemed essential for the economy or national interest, such as energy, transportation, or healthcare. The goal is to ensure that resources are managed for the benefit of the public rather than for private profit. Governments may nationalize industries during times of crisis, economic instability, or when they believe that private companies are not serving the public good. Nationalization can lead to increased government revenue and improved access to services, but it may also result in inefficiencies and reduced competition in the market.