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privatization
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privatization


Margaret Thatcher popularized privatization.
  changing something from state to private ownership or control
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privatization privatized privatize privatizing privatizes
Notes:
There are three primary theoretical inducements to privatize state services:

1. Where there is not a natural monopoly, competition forces deliverers of services to be more responsive to customer demands.

2. Where there is a monopoly, managers of a private firm still have to run things reasonably efficiently or run the risk of a hostile takeover.

3. Privatization of more services, permits politicians to place more focus on managing those services that government provides best.

Privatization is counterintuitive because profit is easily seen while inefficiency is hidden, but experience has often proven profit a low price for efficiency.
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Samples:
  • Margaret Thatcher popularized privatization.
  • Conflicts of ultimate values are mitigated by privatizing religion.
  • The privatization of prison health care, prison commerce, and a range of services has made mass incarceration a money-making windfall for a few and a costly nightmare for the rest of us.
    Bryan Stevenson  --  Just Mercy
  • At a glance he belongs to these wild privatized times, to the marathon of danced-out plots.
    Don DeLillo  --  Underworld
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Associated words [difficulty]:   privatization [9] , loophole [4] , affirmative action [6] , global warming [6] , hard money [6] , Big Brother [7] , OPEC [8]
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Most commonly used in these subjects:   Public Policy & Politics, Business, History
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