the process of selling or transferring ownership and control of a public sector organization or service to a private company or individual.
Using privatization: Examples
Take a moment to familiarize yourself with how "privatization" can be used in various situations through the following examples!
The privatization of the railways has led to increased efficiency but also higher fares.
The government is considering privatization of the postal service.
Privatization of healthcare has been a controversial issue in many countries.
privatization Synonyms and Antonyms
Phrases with privatization
the rapid transfer of ownership and control of state-owned enterprises to private investors
Mass privatization was implemented in many Eastern European countries after the fall of communism.
the sale of only a portion of a state-owned enterprise to private investors, while the government retains some ownership and control
The partial privatization of the national airline was seen as a compromise between those who wanted full privatization and those who wanted to keep it completely under government control.
the transfer of responsibility for education from the government to private individuals or organizations
The privatization of education has been a controversial issue in many countries, with some arguing that it leads to greater inequality and others arguing that it promotes innovation and competition.
Summary: privatization in Brief
The term 'privatization' [ˌpraɪvətaɪˈzeɪʃən] refers to the process of transferring ownership and control of a public sector organization or service to a private company or individual. It is often used in the context of railways, postal services, and healthcare, and can be either partial or mass. The privatization of education is another area of debate. An example sentence is 'The privatization of the railways has led to increased efficiency but also higher fares.'