Definition

Verb: * To transfer (a business, industry, or service) from public or governmental ownership and control to private ownership and control.

Usage

The verb "privatize" is used to describe the process by which a government sells a state-owned company or asset to private investors. It is typically used in economic, political, and business contexts. The focus is on the change in ownership structure from the public sector to the private sector.

Examples

• The government decided to privatize the national railway company to improve its efficiency.
• Many countries have privatized their telecommunications sectors.
• The debate continues on whether to privatize the public water utility.

Advanced Usage

• Privatization (noun): The process or policy of privatizing state-owned assets.
  • The privatization of the healthcare system is a controversial topic.
• To be privatized: The passive form is commonly used to describe the asset undergoing the change.
  • Several state-owned enterprises were privatized in the 1990s.

Variants and Related Words

• Privatization (n): The act or instance of privatizing.
• Privatized (adj): Describing something that has undergone privatization.
  • a privatized industry
• Reprivatize (v): To privatize again.

Synonyms

• Denationalize
• Deregulate (in some contexts, though this specifically means removing government , not necessarily changing ownership)
• Sell off

Antonyms

• Nationalize
• Municipalize

Related Phrases

• Privatize gains, socialize losses: An idiomatic critique describing a situation where private entities keep profits but the public bears the costs of failures.
  • Critics accused the bank bailout of being a case of privatizing gains and socializing losses.

Verb

1. change from governmental to private control or ownership
   • The oil industry was privatized