Privatization is when a government sells or transfers something it owns to private companies or individuals. Instead of the government running a service or owning a business, private owners take over.

For example, if a city government decides to privatize its public swimming pools, a private company would buy and operate them. The pools might charge different prices, change their hours, or run differently than when the city managed them. Similarly, some countries have privatized postal services, airlines, or telephone companies that were once government-run.

The word comes from making something private instead of public. Supporters of privatization argue that private companies often run things more efficiently and cost taxpayers less money. Critics worry that private companies might focus on profits over serving everyone fairly, especially people who can't afford higher prices.

You might hear about privatization in news stories about schools, prisons, hospitals, or utilities like water and electricity. The debate usually centers on whether certain services work better under government control or private ownership. Different countries and communities make different choices based on their values and experiences. When something gets privatized, it means responsibility shifts from elected officials and government workers to private business owners and their employees.