When did privatization take place?

Answer 1

Privatization refers to the process of transferring ownership of a public sector enterprise or public services to private entities. This movement gained significant momentum in the late 20th century, particularly during the 1980s and 1990s, with notable examples including the privatization of British Telecom in the UK in 1984 and the widespread privatization reforms in Eastern European countries following the fall of the Soviet Union. The timing and extent of privatization varied by country and sector, influenced by political ideologies and economic conditions.