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The Process of Privatization
Table of Contents:
1. Introduction
2. Privatization Goals
3. Privatization Methods
4. Privatization Techniques
5. Process of Privatization
6. Privatization Developments around the World
7. The Advantages of Privatization in Saudi Arabia
Introduction
Privatization is the process of transferring the ownership or management of public companies and services from the public sector to the private sector through a number of methods that we will discuss later in this essay. It can be partial or complete. It may also carry conditions as to the change in ownership and other times create partnerships between government and private service providers. The reverse process is nationalization or municipalization.
"Privatization may be a popular buzzword today, but the concept has been around since the first municipality hired Joe and his wagon to pick up the trash instead of getting city employee Frank to do it," remarked Public Works.
The term was introduced in 1948 and is thought to have been popularized by The Economist during the 1980s. Today it is a political process as well as a commercial and economic process. Privatization changes the distribution of power within a society, as it weakens the control of the economy by the government. Workers often feel threatened by the changes that it proposes, although they usually benefit from the process. As a result, public support is a major consideration in the implementation of any privatization program.
Privatization Goals
Many goals are often pursue ...