To organize something so that it is owned, controlled, or operated by a group or community rather than by individuals (British spelling).
From collective plus the verb-forming suffix -ise (British English). This verb form emerged in the early 20th century during socialist movements, particularly in Europe and the Soviet Union.
Stalin's forced collectivisation of agriculture in the Soviet Union in the 1930s is one of history's most tragic examples—the word itself became associated with both idealistic dreams and brutal implementation.
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