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

• deregulate
• decontrol
• commercialize
• monetize
• denationalize

Antonyms for privatize

• nationalize
• socialize

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.

• privatize the gains and nationalize the 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.