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Economists distinguish between nationalization and socialization, which refers to the process of restructuring the economic framework, organizational structure, and institutions of an economy on a socialist basis. By contrast, nationalization does not necessarily imply social ownership and the restructuring of the economic system.
1971 The State Bank of Bangladesh was founded by nationalization of the private shares in the eastern section of the State Bank of Pakistan. [4]1972-1974 Through this three years period after independence of Bangladesh in 1971, the government had taken over 786 industrial undertakings.
The economic policy of the Indira Gandhi premiership was characterized by moderate tax increases on higher income Indians, bank nationalisation, and the green revolution. Gandhi presided over three Five-Year Plans as Prime Minister, two of which succeeded in meeting the targeted growth.
At the same time, it had emerged as a large employer, and a debate had ensued about the nationalization of the banking industry. [32] Indira Gandhi, the then Prime Minister of India, expressed the intention of the Government of India in the annual conference of the All India Congress Meeting in a paper entitled Stray thoughts on Bank ...
Public ownership of the means of production is a subset of social ownership, which is the defining characteristic of a socialist economy. However, state ownership and nationalization by themselves are not socialist, as they can exist under a wide variety of different political and economic systems for a variety of different reasons.
Several major news organizations are reporting that about ten of the 19 banks that have gone through government "stress tests" will have to raise capital. Most analysts already believe that ...
Economic nationalism or nationalist economics is an ideology that prioritizes state intervention in the economy, including policies like domestic control and the use of tariffs and restrictions on labor, goods, and capital movement. [1] The core belief of economic nationalism is that the economy should serve nationalist goals. [2]
Bank bailouts are what keep the economy churning, and all it takes is an economic shock such as the coronavirus pandemic or housing crisis to send the economy into turmoil.