The global financial crisis of 2007-2008 has reinvigorated criticism on the process of privatization during the previous decades. There are now several voices that ask for a renewed role of the State in the economic field, both in the academy and (sometimes) in the political debate. On the other hand, the numerous interpretations of the process of privatization have further contributed to the fragmentation of the topic, both in theory (what is meant with public ownership) and in empirical analysis (which juridical and organizational form is used by state- owned enterprises). To bring back the debate on a shared and homogenous base, it is useful to distinguish the process of nationalization from the one of socialization, as well as establishing which variables are relevant to update their definition.