What is privatization of natural resources?

Answer 1

Privatization of Natural Resources refers to the process of transferring ownership and control of natural resources, such as water, minerals, or land, from public entities or the government to private individuals or companies. This can lead to increased efficiency and investment, but may also raise concerns about environmental sustainability, equitable access, and the prioritization of profit over public good. Critics argue that privatization can exacerbate inequality and limit access to essential resources for marginalized communities. The impact of such privatization varies widely based on regulatory frameworks and governance.