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german essay writing International School Eerde

Image Source: bloomberg.com/image/izqs.daUrNWc.jpg. The state becomes the owner of the nationalized concern. The State and the Government become responsible for the loss and the profit of the nationalized business. A few years ago, in essay essays westbourne school, our won country, life insurance business was nationalized. Then fourteen banks were nationalized. Bus services on different routes have also been nationalized. Many other industries and business concerns, including coal mines, have also been taken over by the Government. Some people are against german essay writing International School Eerde nationalization. They say that by nationalization, the Government takes away the german essay writing International School Eerde right of the citizens to do any business which they think themselves to be capable of. This is against the german essay writing International School Eerde spirit of democracy. But it is not so. german essay writing International School Eerde? Nationalization ad democracy can go hand-in-hand. How to write article North Broward Preparatory School? They are not opposed to each other. Nationalization has become the economic creed of modern times. Its advantages are many. First, private ownership of big industries and business concerns gives rise to two classes. german essay writing International School Eerde? On the one side, there re big capitalists who own, manage and control the firms and the mills. Coursework based degrees Windermere School? On the other, are the how to write an compare and contrast essay dulwich college poor laborers. The capitalists become richer while the poor laborers grow poorer. german essay writing International School Eerde? Nationalization removes exploitation. It reduces inequalities. The distribution of wealth becomes uniform and german essay writing International School Eerde just. Secondly, under private ownership competition is very keen. Thus, big and powerful capitalists try to crush their small rivals. This is against national interest. Nationalization curbs unhealthy competition and checks corruption. There are certain basic industries which must not be left in the hands of private persons. They must be run by the Government. Production of arms and ammunition, atomic energy, public utility services like railways, electricity, oil and natural gas, waterworks and aviation, etc., are some such industries. In such production works, the service of the public is the main motive and not the earning of profits. We are sorry to note that a number of public sector undertakings are not doing commendable work. There are to-day a number of autonomous corporations, and german essay writing International School Eerde they have not succeeded in increasing production. german essay writing International School Eerde? They are incurring heavy losses. They must face stiff competition from german essay writing International School Eerde private enterprises so that their efficiency may be increased. The spirit of competition is how to write a community service essay holland international study center of great good to the nation. All is not good with nationalization. If the state begins to nationalize different business concerns from time to time, it kills private enterprise. Private persons do not invest in new industries lest they be nationalized. Further, with gradual nationalization, the state begins to acquire greater and greater control over the life of the people. german essay writing International School Eerde? In the long run this leads to complete centralization of economic power in the hands of the state. This means bringing in dictatorship form the back door. It should also be kept in mind that many of the privately owned concerns have only worn out and outdated machinery. Hence to nationalize such industries is not profitable. So new industries should be established instead of taking over the old ones. The public sector should be enlarged and strengthened, but the private sector must also be encouraged and helped to tide over the german essay writing International School Eerde crisis which it may be facing.