privatization

The transfer of responsibilities from the state to the private sector of the economy (see, Privatizing the Public Sector, 1982). Privatization takes many forms, depending on the nature of the responsibilities concerned, and to whom they are transferred. It may involve the highly publicized transfer of the ownership of the property and assets of public corporations or of local authority housing. Equally, it may involve the more gradual and less publicized running down of state provisions, subsidies, and regulation. A commitment to privatization has been a hallmark of conservative governments in Britain and many other West European countries during the 1980s. For an interesting case-study see, Privatism and Urban Policy in Britain and the United States (1989). By far the largest programmes of privatization were initiated after the fall of the communist regimes in the former state socialist societies of Eastern Europe. The term should not be confused with the more obviously sociological concept of privatism.

Dictionary of sociology. 2013.

Look at other dictionaries:

  • privatization —    Privatization is the act of returning to private ownership a company or concern that is owned by the state, while nationalization is conversely the opposite. In the postwar period up to the Thatcher administration, nationalization remained… …   Encyclopedia of contemporary British culture

  • privatization — 1959, from PRIVATIZE (Cf. privatize) + ATION (Cf. ation) …   Etymology dictionary

  • privatization — (Amer.) n. act of making private, act of transferring control from governmental to private powers (also privatisation) …   English contemporary dictionary

  • Privatization — Part of a series on Capitalism Concepts …   Wikipedia

  • Privatization —    Under Boris Yeltsin, the newly independent Russian Federation initiated a mass privatization scheme meant to transfer the assets of the now defunct Soviet state to the people in whose name the property nominally was held. However, incipient… …   Historical Dictionary of the Russian Federation

  • Privatization — The act of returning state owned or state run companies back to the private sector, usually by selling them. The New York Times Financial Glossary * * * privatization pri‧vat‧i‧za‧tion [ˌpraɪvətaɪˈzeɪʆn ǁ tə ] also privatisation noun… …   Financial and business terms

  • privatization — The transfer of government owned or government run companies to the private sector, usually by selling them. Bloomberg Financial Dictionary * * * privatization pri‧vat‧i‧za‧tion [ˌpraɪvətaɪˈzeɪʆn ǁ tə ] also privatisation noun [uncountable]… …   Financial and business terms

  • privatization — denationalization The process of selling a publicly owned company or asset (see nationalization) to the private sector. Privatization may be pursued for political as well as economic reasons. The economic justification for privatization is that a …   Accounting dictionary

  • privatization — denationalization The process of selling a publicly owned company or asset (see nationalization) to the private sector. Privatization may be pursued for political as well as economic reasons. The economic justification for privatization is that a …   Big dictionary of business and management

  • privatization */*/ — UK [ˌpraɪvətaɪˈzeɪʃ(ə)n] / US [ˌpraɪvətɪˈzeɪʃ(ə)n] noun [countable/uncountable] Word forms privatization : singular privatization plural privatizations economics the sale of a business or industry that was owned and managed by the government… …   English dictionary

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.