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privatize

[ˈpraɪvətaɪz]

privatize Definition

to transfer ownership or control of a business or industry from the government to a private company or individual.

Using privatize: Examples

Take a moment to familiarize yourself with how "privatize" can be used in various situations through the following examples!

  • Example

    The government decided to privatize the railway system.

  • Example

    The company was privatized in the late 1990s.

  • Example

    The government is planning to privatize several state-owned companies.

  • Example

    The healthcare system has been partially privatized.

privatize Synonyms and Antonyms

Synonyms for privatize

Antonyms for privatize

Phrases with privatize

  • privatize profits and socialize losses

    a phrase used to describe a situation where private companies or individuals benefit from profits while the government or society bears the cost of any losses

    Example

    Many people criticized the bank bailout as an example of privatizing profits and socializing losses.

  • a phrase used to describe a situation where private companies or individuals benefit from profits while the government or society bears the cost of any losses

    Example

    Some people argue that the government should not bail out failing companies and instead let them fail, as this would prevent the privatization of gains and nationalization of losses.

  • re-privatize

    to transfer ownership or control of a business or industry back to the private sector after it has been nationalized or taken over by the government

    Example

    The government announced plans to re-privatize the airline industry.

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Summary: privatize in Brief

The verb 'privatize' [ˈpraɪvətaɪz] means to transfer ownership or control of a business or industry from the government to a private company or individual. It is often used in the context of state-owned companies or industries, such as 'The government decided to privatize the railway system.' 'Privatize' can be contrasted with 'nationalize' or 'socialize,' and has spawned phrases like 'privatize profits and socialize losses,' which describes a situation where private companies benefit from profits while the government or society bears the cost of any losses.