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noun
the area of the nation's economy under private rather than governmental control.
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Instead, we are falling between two stools, with the public sector forgoing its broader societal function and the private sector only beginning to assume the mantle.
He left politics in 2009 after being marginalized by the chancellor and moved into the private sector, becoming a multimillionaire as he rose to the rank of chairman of investment management firm BlackRock Germany.
That part of an economy in which goods and services are produced by individuals and companies as opposed to the government, which controls the public sector.