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Text File  |  1992-09-03  |  826b  |  22 lines
  1. Privatization is a policy or process of 
  2. selling or transferring state-owned or public 
  3. assets and services (notably nationalized 
  4. industries) to private investors. 
  5. Privatization of services involves the 
  6. government contracting private firms to 
  7. supply services previously supplied by public 
  8. authorities. Supporters of privatization 
  9. argue that the public benefits from 
  10. theoretically greater efficiency from firms 
  11. already in the competitive market, and the 
  12. release of resources for more appropriate use 
  13. by government. Those against privatization 
  14. believe that it transfers a country's assets 
  15. from all the people to a controlling 
  16. minority, that public utilities such as gas 
  17. and water become private monopolies, and that 
  18. a profit-making state-owned company raises 
  19. revenue for the government. 
  20.  
  21. Subject by: Vince Pike
  22.