privatize
UK: ˈpraɪvətaɪz | US: ˈpraɪvətaɪz
vt. To transfer ownership or control of a business, service, or industry from the government to private individuals or companies.
vt. To make something private or restricted in access.
privatize = private<individual> + ize<verb suffix>
- private (from Latin privatus, meaning "set apart, belonging to oneself")
- ize (verb-forming suffix from Greek -izein, indicating "to make or become")
Etymology Origin:
The word "privatize" emerged in the mid-20th century, combining "private" (rooted in Latin privare, "to deprive or separate") with the suffix "-ize." It reflects the economic shift of transferring public assets to private ownership, emphasizing the action ("to make private"). The suffix "-ize" systematically converts nouns/adjectives into verbs, as seen in "modernize" or "standardize."
The government plans to privatize the national railway system next year.
Critics argue that privatizing healthcare could reduce accessibility for low-income families.
Several state-owned enterprises were privatized during the economic reforms.
The company aims to privatize its data storage to enhance security.
Historically, many countries privatized utilities to improve efficiency.