Privatization
Alternative forms
Origin
Coined by Sidney Merlin in 1943 though aware of earlier reprivatization.
Full definition of privatization
Noun
privatization
(countable and uncountable; plural privatizations)- The transfer of a company or organization from government to private ownership and control.
- 1943, Sidney Merlin, Trends in German Economic Control Since 1933, The party, moreover, facilitates the accumulation of private fortunes and industrial empires by its foremost members and collaborators through ‘privatization’ and other measures, thereby intensifying centralization of economic affairs and government in an increasingly narrow group that may for all practical purposes be termed the national socialist elite.