Privatization is the process of transferring ownership or control of government-owned enterprises or services to private entities. This economic strategy aims to increase efficiency, reduce government involvement, and promote competition in various sectors, including utilities, transportation, and healthcare.
While proponents argue that privatization can enhance productivity and innovation, critics express concerns about potential inequality, loss of public control, and compromised access to essential services.
The debate surrounding privatization often hinges on balancing economic efficiency with societal needs and ensuring equitable outcomes for citizens.
