The Socialism in Sri Lanka or Sri Lankan socialism is a political philosophy that is shared by various political parties of the country. Socialist parties, especially the Trotskyist Lanka Sama Samaja Party, have played a major role in the country's history from the time of the Sri Lankan Independence movement. Socialist ideology shaped the principal economic and social policies of Sirimavo Bandaranaike and the Sri Lanka Freedom Party during the 1970s. Several sectors of the economy including banking, insurance and some privately owned estates were nationalized during her tenure. Bread and several essential items were rationed by the government at the time.