Changes

'''Privatization''' is the act of opening up previously state-owned corporations, assets, service or economic sector to private enterprise, though it can also be used to refer to public private partnerships, such as operating concessions, or Build Operate Transfer schemes. Privatization has been encouraged by the [[IMF]] and [[World Bank]] in both wealthy and developing nations since the [[Second World War]], but particularly since the 1980s. It is mostly responsible for the transformation of poor quality public services delivered in a top-down authoritarian manner to customer-focused, flexible, innovative, more efficient and transparent services, as well as unlocking the potential of private sector profit-focused investment that have transformed services such as water, transportation, prisons, and telecoms in the developing world.

'''Privatization''' is the act of opening up previously state-owned corporations, assets, service or economic sector to private enterprise, though it can also be used to refer to public private partnerships, such as operating concessions, or Build Operate Transfer schemes. Privatization has been encouraged by the [[IMF]] and [[World Bank]] in both wealthy and developing nations since the [[Second World War]], but particularly since the 1980s. It is mostly responsible for the transformation of poor quality public services delivered in a top-down authoritarian manner to customer-focused, flexible, innovative, more efficient and transparent services, as well as unlocking the potential of private sector profit-focused investment that have transformed services such as water, transportation, healthcare, defense, prisons, and telecoms in the developing world.

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 pf [[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 pf [[globalization]].