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Nationalizing industry aimed to eliminate private ownership and the class distinctions it created, thereby promoting economic equality. By bringing industries under state control, resources and wealth could be redistributed more equitably among the population. This centralization allowed for coordinated planning to meet societal needs rather than profit motives, aligning with the communist goal of a classless society. Ultimately, nationalization sought to diminish the power of capitalists and empower the working class, fostering a more egalitarian social structure.

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