Word
privatization
Phoneticspri·va·ti·za·tion
/ˈpɹaɪvətəˈzeɪʃən/
Definition
n. the process of selling a business or service that was owned by the government to a private company. This means the government no longer runs it, and it is now managed for profit.
n. the transfer of ownership, property, or business from the public sector to the private sector. This process typically involves the sale of state-owned assets or the outsourcing of government services to private corporations.
Examples
“The privatization of the national railway led to higher ticket prices.”
“Economists debated whether the privatization of the water supply would improve efficiency or simply increase costs for consumers.”
“Critics of rapid privatization argue that selling off essential public utilities without robust regulatory oversight can lead to private monopolies that prioritize shareholder dividends over public service quality.”
Examples
simple
“The privatization of the national railway led to higher ticket prices.”
contextual
“Economists debated whether the privatization of the water supply would improve efficiency or simply increase costs for consumers.”
complex
“Critics of rapid privatization argue that selling off essential public utilities without robust regulatory oversight can lead to private monopolies that prioritize shareholder dividends over public service quality.”
Usage
Uncountable when referring to the general economic concept; countable when referring to a specific instance or policy program.
Real-World Examples
“Those concerns echo ones raised during the first Trump administration, when the White House argued privatization would better serve the American public by improving visitor experiences and saving federal dollars.” Etymology
Calque of German Privatisierung (with English -ation), derived from Latin prīvātus (“apart from the state; private”), with reference to post-First World War German economic principles. Popularized by Sidney Merlin in 1943, who was aware of the term reprivatization (used in similar contexts), already attested at the time.
Etymology adapted from Wiktionary, available under CC BY-SA 4.0.
Scan code
englishreference.com/q/privatization