Privatization Meaning
/ˌpɹaɪvɪtaɪˈzeɪʃ(ə)n/Definition, CEFR level C1, pronunciation, examples, and quiz.
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Definition
nounThe transfer of a company or organization from government to private ownership and control.
nounThe rendering of a thought or an idea, as private in scope.
Sentence Examples
It was disappointing to hear about the privatization of Chilean copper.
Algeria needs a privatization plan.
There were fears that privatization would lead to job losses.
Synonyms & Antonyms
Synonyms:
None
Antonyms:
CEFR Practice Quiz
The economic policy of selling state-owned companies to private investors is known as ____.
CEFR Practice Quiz (Alternate)
The ____ of the national railway led to higher fares and a decline in service quality.
Word Origin & History
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.
Literary Quotations & Historical Citations
"The party, moreover, facilitates the accumulation of private fortunes and industrial empires by its foremost members and collaborators through ‘privatization’ and other measures, thereby intensifying centralization of economic affairs and government in an increasingly narrow group that may for all practical purposes be termed the national socialist elite."
— 1943, Sidney Merlin, “Trends in German Economic Control Since 1933”, in Quarterly Journal of Economics, page 207:
"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 February 14, Laurie Sherman, “All In A Day's Work”, in Gay Community News, volume 15, number 30, page 7:
Explore More C1 Vocabulary Words
CEFR Practice Quiz
The economic policy of selling state-owned companies to private investors is known as ____.
CEFR Practice Quiz (Alternate)
The ____ of the national railway led to higher fares and a decline in service quality.