privatization

[ˌpraɪvətaɪˈzeɪʃən]

privatization Definition

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!

• Example

  The privatization of the railways has led to increased efficiency but also higher fares.

• Example

  The government is considering privatization of the postal service.

• Example

  Privatization of healthcare has been a controversial issue in many countries.

privatization Synonyms and Antonyms

Synonyms for privatization

• denationalization
• disinvestment
• deregulation
• outsourcing

Phrases with privatization

• mass privatization

  the rapid transfer of ownership and control of state-owned enterprises to private investors

  Example

  Mass privatization was implemented in many Eastern European countries after the fall of communism.

• partial privatization

  the sale of only a portion of a state-owned enterprise to private investors, while the government retains some ownership and control

  Example

  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.

• privatization of education

  the transfer of responsibility for education from the government to private individuals or organizations

  Example

  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.

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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.'