Marketization

Marketization refers to the process of introducing market principles and competition into sectors traditionally managed by the government or non-profit organizations. This can involve allowing private businesses to deliver services previously provided by the state, such as education, health care, or utilities. The goal is often to increase efficiency, reduce costs, and improve quality through competition. However, marketization can also raise concerns about equity and access, as profit motives may conflict with public welfare aims. Ultimately, it's about balancing the benefits of market forces with the needs of society.