privatization
USpry-vuh-ty-ZAY-shuhn/ˌpɹaɪvətaɪˈzeɪʃən/UKpry-vi-ty-ZAY-shuhn/ˌpɹaɪvɪtaɪˈzeɪʃ(ə)n/
Pluralprivatizations
UK spellingprivatisation
- 1The selling of a government-owned company or service to private owners.
Like handing the keys of a public building over to a private company to run.
The town voted against the privatization of its bus service.
After privatization, the phone company raised its prices.
Similardenationalization, sell-off
Oppositenationalization
Note
- 2Treating a thought or idea as a private matter for each person, not a matter for everyone.
Some people worry about the privatization of religion, as if faith had nothing to do with public life.
Questioning the privilege of biology went hand in hand with a challenge to the privatization of the family and the notion that parents own children and may therefore treat them however they choose.
1988, Laurie Sherman, “All In A Day's Work”Here, privatization means treating the family as a private matter, not everyone's concern.Note
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Origin
It comes from the German word Privatisierung, based on Latin prīvātus meaning "private." It became popular in 1943.