What does "privatization" mean?
The transfer of a company or organization from government to private ownership and control.
noun ·Rare ·Advanced level
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"Coordinate term: denationalization"
"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."
"It was disappointing to hear about the privatization of Chilean copper."
The transfer of a company or organization from government to private ownership and control.
Common synonyms include: apartheid, denationalisation, denationalization, detachment, disinvestment, divestment.
It was disappointing to hear about the privatization of Chilean copper.
Pronounced /ˌpɹaɪvətaɪˈzeɪʃən/.
Calque of German Privatisierung (with English -ation), derived from Latin prīvātus (“apart from the state; private”), with reference to post-First World War German economic principles. Popularized by Sidney Merlin in 1943, who was aware of the term reprivatization (used in similar contexts), already attested at the time.