privatization

American  

[prahy-vuh-tuh-zay-shuhn] / ˈpraɪ və təˈzeɪ ʃən /

noun

1. the process or practice of selling something owned by the government, typically a public service such as a railway or energy network, to a private company.

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Explanation

When something is owned by the government — like a healthcare system, for example — and its ownership becomes privately held, it's called privatization. If your governor had a plan to replace all the public schools in the state with private schools, you could describe it as privatization. People tend to have strong opinions about privatization, believing either that free enterprise and private companies increase efficiency, or that certain services are harmed by privatization, particularly education, healthcare, and law enforcement. At the heart of privatization is the word private, rooted in the Latin privatus, "belonging to the self rather than the state."

Example Sentences

The McCoys settled in Imperial Beach in the early 1970s — Mike was a veterinarian, Patricia a teacher — when the coastal protection movement was spreading across the state amid fears of overdevelopment and privatization.

From Los Angeles Times • Feb. 14, 2026

Goldman Sachs Asset Management, which is a shareholder in Soho House, is rolling over some of the shares as part of the privatization sale.

From The Wall Street Journal • Jan. 8, 2026

“We think shares are fairly valued, but a share buyback resumption from the second half of 2026, after the completion of the Hang Seng Bank privatization, should support the share price,” Chan says.

From The Wall Street Journal • Dec. 4, 2025

That would avoid the market disruption of full privatization, they said.

From Barron's • Oct. 14, 2025

This possible growth depends on a number of factors we cannot control, including crime rates and sentencing patterns in various jurisdictions and acceptance of privatization.

From "The New Jim Crow" by Michelle Alexander