Privatization is a process that is frequently met in countries with developed market competition. It is used by governments in order to transfer some of the state owned assets or services to private investors. The process of privatization has its advantages and its disadvantages.
In my opinion the process of privatization should be viewed from extreme points-of-view. In other words, we should not view privatization as either good or bad. I think some business sectors should be privatized (Investopedia, 2013). This is the case of the telecommunications industry. If such industries are privatized, numerous providers and sellers will enter the market. The increased competition in such industries determines lower prices and more options for buyers. However, other sectors, like healthcare should not be privatized. This is because in such cases the government would not have any control on healthcare. Social security issues must be managed by the state.
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