Privatization

Privatization is the process of transferring ownership or control of a public service or asset from the government to private individuals or companies. This can include things like schools, utilities, and transportation services. The goal of privatization is often to improve efficiency, reduce government spending, and encourage competition. Supporters argue it can lead to better services and lower costs, while critics worry it may prioritize profit over public interest, potentially leading to reduced access to essential services for some communities. Overall, privatization reflects a shift from public to private management in various sectors.