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privatization |
Also found in: Dictionary/thesaurus, Financial, Wikipedia, Hutchinson | 0.04 sec. |
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privatization: see nationalization Privatization, the reverse process, has become widespread, however, with socialism's loss of credibility. Great Britain sold off many of its public companies, such as British Telecom; France sold 65 state-owned companies in 1988; and the collapse of Communist dictatorships in E ..... Click the link for more information. . privatizationTransfer of government services or assets to the private sector. State-owned assets may be sold to private owners, or statutory restrictions on competition between privately and publicly owned enterprises may be lifted. Services formerly provided by government may be contracted out. The objective is often to increase government efficiency; implementation may affect government revenue either positively or negatively. Privatization is the opposite of nationalization, a policy resorted to by governments that want to keep the revenues from major industries, especially those that might otherwise be controlled by foreign interests. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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China has been experimenting with the European model, the Japanese-Korean model, and the US model to privatize the industrial sector of the economy. Thomas, who is the executive director, claims that vouchers for schools attempt to privatize public education and squeeze out poor people, who are unable to pay the difference for private schools. As a condition of its 1999 approval, the course could privatize only after it's opened for public play for 15 years, or if two new public regulation-size golf courses opened in the Santa Clarita Valley to ensure there were enough open courses here. |
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