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While theoretically privatization promotes "[[freedom]] and [[democracy]]", in practice it has too often transferred public ownership of [[corporation|enterprize]]s and [[natural resources]] from [[government]] to a non-democratic, [[corrupt]] [[oligarchy]] and [[bureaucratic]] [[elitism|elite]] in the post-[[Cold War]] era of [[globalization]].

While theoretically privatization promotes "[[freedom]] and [[democracy]]", in practice it has too often transferred public ownership of [[corporation|enterprize]]s and [[natural resources]] from [[government]] to a non-democratic, [[corrupt]] [[oligarchy]] and [[bureaucratic]] [[elitism|elite]] in the post-[[Cold War]] era of [[globalization]].

As well as proving economic and quality of life benefits to citizens in developing countries, it theoretically us supposed to be a major factor in improving [[rule of law]], [[accountability]], [[transparency]], "[[democracy]]" and personal freedoms, by "globalizing" or integrating the economies of developing countries with those of [[the West]], thus leading to greater incentives to reconcile regulatory, [[legal]] and [[political]] standards, as well as encouraging the local population to accept [[responsibility]] for development of their country, through participating in an opening market and thus directly affecting the way these services are provided by exercising their consumer choice in service provision, and by making stock investments in publicly traded, rather than state monopolist utilities.

As well as proving economic and quality of life benefits to citizens in developing countries, it theoretically is supposed to be a major factor in improving [[rule of law]], [[accountability]], [[transparency]], "[[democracy]]" and personal freedoms, by "globalizing" or integrating the economies of developing countries with those of [[the West]], thus leading to greater incentives to reconcile regulatory, [[legal]] and [[political]] standards, as well as encouraging the local population to accept [[responsibility]] for development of their country, through participating in an opening market and thus directly affecting the way these services are provided by exercising their consumer choice in service provision, and by making stock investments in publicly traded, rather than state monopolist utilities.

Some privatization programs have been strangled by excessive state regulation that has prevented them becoming honest, successful private ventures. For instance, the Dulles Greenway in Virginia has not turned a profit,<ref>Northern Virginia Transportation Alliance, [http://www.nvta.org/content.asp?sl=459&contentid=1767 Dulles Greenway]</ref> due to excessive government regulation, and the fact that the state distorts free-market mechanisms by operating "free" roadways funded from taxpayers money.

Some privatization programs have been strangled by excessive state regulation that has prevented them becoming honest, successful private ventures. For instance, the Dulles Greenway in Virginia has not turned a profit,<ref>Northern Virginia Transportation Alliance, [http://www.nvta.org/content.asp?sl=459&contentid=1767 Dulles Greenway]</ref> due to excessive government regulation, and the fact that the state distorts free-market mechanisms by operating "free" roadways funded from taxpayers money.