Privatization

Definition

Privatization refers to the transfer of ownership or operation, usually from the public sector (government) to the private sector (individuals or businesses).

Parts of Speech

• Noun: privatization

Pronunciation

American English

• IPA Pronunciation: /ˌpraɪvətəˈzeɪʃən/
• Respelling: pry-vuh-tuh-ZAY-shuhn (with "pry" as in "pry," "vuh" as in "but," "tuh" as a soft sound, and "ZAY" as in "say," with "shuhn" as in "mission")

British English

• IPA Pronunciation: /ˌprɪvətaɪˈzeɪʃən/
• Respelling: PRIV-uh-ty-ZAY-shuhn (with "PRIV" as in "give," "uh" as in "but," "ty" as a quick "tie," and "ZAY" as in "say," with "shuhn" as in "mission")

In both dialects, "privatization" is pronounced with the primary stress on the third syllable, "ZAY." The pronunciation remains consistent across both American and British English, clearly articulating each part of the word with emphasis on the "ZAY" part.

Etymology

Derived from "private" + "-ization". The term "private" has its roots in the Latin word "privatus", which means "withdrawn from public life, deprived of office, peculiar to oneself." The suffix "-ization" denotes the action or process of making something into the state or quality described.

Derivatives

• Privatize
• Privatizer
• Privatized
• Privatizing
• Privatizable

Synonyms

• Denationalization
• Deregulation
• Commercialization

Antonyms

• Nationalization
• Public ownership
• Socialization

Usage

"Privatization" is commonly used in the context of economics, public policy, and political discourse. It involves transferring the control of specific services or business activities from a government to a private entity. The merits and demerits of privatization are a subject of extensive debate among policymakers, economists, and the general public.

Related Terms

• Liberalization
• Free market
• Capitalism
• Public sector
• State-owned enterprise

Detailed Definition

Noun

• The process of transferring an industry or assets from the public sector to the private sector.
• Example: "The privatization of the telecommunications industry led to increased competition."

• The transfer of certain rights or functions from the government to private enterprises.
• Example: "The privatization of water services raised concerns about access and pricing."

• The shift from common or public use to individual ownership or control.
• Example: "The privatization of communal lands disrupted traditional agricultural practices."