Privatized: meaning, definitions and examples
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privatized
[ praɪˈvætɪzaɪzd ]
economic context
Privatized refers to the process of transferring ownership of a business, public service, or public assets from the government to private individuals or organizations. This often occurs in the context of privatization, where state-owned enterprises are sold off to private companies. The goal of privatization is typically to improve efficiency, increase competition, and reduce government expenditure. However, the effects of privatization can be contentious, and opinions on its effectiveness vary widely.
Synonyms
commercialized, corporatized, denationalized.
Examples of usage
- The government privatized the telecommunications sector.
- Many public services have been privatized in recent years.
- After being privatized, the company saw a significant increase in profits.
Translations
Translations of the word "privatized" in other languages:
🇵🇹 privatizado
🇮🇳 निजीकरण किया हुआ
🇩🇪 privatisiert
🇮🇩 diprivatisasi
🇺🇦 приватизований
🇵🇱 prywatyzowany
🇯🇵 民営化された
🇫🇷 privatisé
🇪🇸 privatizado
🇹🇷 özelleştirilmiş
🇰🇷 민영화된
🇸🇦 تم تخصيصه
🇨🇿 privatizovaný
🇸🇰 privatizovaný
🇨🇳 私有化的
🇸🇮 privatiziran
🇮🇸 einkavarið
🇰🇿 жекешелендірілген
🇬🇪 პრივატიზებული
🇦🇿 özəlləşdirilmiş
🇲🇽 privatizado
Etymology
The term 'privatized' originates from the word 'privatize,' which was first used in the 20th century as part of the broader economic discourse surrounding privatization policies. The practice gained traction during the 1980s and 1990s, particularly in the context of neoliberal economic reforms implemented by various governments worldwide. The prefix 'private' indicates a relationship to individuals or non-governmental entities, while the suffix '-ize' suggests the action of making something into that state. As countries transitioned from command economies to market-oriented systems, privatization became a key strategy for economic restructuring. The implementation of privatization policies often reflected a shift in ideology, where reducing the state's role in the economy was prioritized to foster growth and innovation. Thus, 'privatized' encapsulates not only a change in ownership but also significant shifts in economic policy and societal perspective.