noun · academic
privatization
UK/ˌprɪvətaɪˈzeɪʃ(ə)n/US/ˌprɪvətaɪˈzeɪʃən/pri·va·ti·ZA·tion
the process of transferring ownership or control of something from the public sector to private ownership
Examples
“The privatization of state-owned companies was central to economic reform.”
“Privatization often sparks debates about efficiency versus public interest.”
“Many critics argue that privatization can increase inequality if not regulated.”
Band 8 sentence
“The privatization of key industries in the 1980s fundamentally altered the structure of the national economy, increasing efficiency but also exacerbating inequality.”
Collocations
- privatization of state-owned enterprises
- the privatization process
- support / oppose privatization
Word family
Common mistakes
privatization the state-owned enterprises→privatization of the state-owned enterprises
privateization→privatization
Say it for a higher band
5sell off state companies→6privatise (verb) / privatise the company→7+privatization
Synonyms
denationalization
sell-off
Easily confused
deregulation
“Deregulation in the 1980s allowed new companies to enter the market.”
Related words
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In Society & Government
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