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UNCERTAINTY: The possibility that any number of things could happen in the future. In other words, the future is not known. This should be compared with risk, which is assigning probabilities to alternative possibilities.
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                           PRIVATIZATION: The process of converting or "selling off" government-owned assets, properties, or production activities to private ownership. Privatization is usually undertaken either to generate revenue for the government or as part of an overall laissez faire approach to the economy. After several decades of increasing government control of productive activities, privatization came into vogue in the 1980s, along with business deregulation and an overall movement toward greater use of markets.The logic behind privatization is two-fold: As such, it seems natural to give the private sector a shot at running activities that the public sector does not run very well. The downside of privatization is that many government functions just cannot be performed efficiently by the private sector, which is why, after thousands of years of civilization, government functions continue to exist and persist.Privatization actually reflects one end of a continuum of political views that are in a constant tug of war. At the other end is nationalization. As much as anything else, these two alternatives reflect the ongoing tug and pull of competing political views. - Liberals tend to favor paternalistic government allocation and ownership of resources. Nationalization is a better fitting pursuit for their philosophy.
- Conservatives, in contrast, tend to favor market allocation and private ownership of resources. Privatization is their end of choice.
However, given the efficiency of competitive markets, the necessary functions of government, and the ever present fifth rule of imperfection, neither end is likely to perpetually dominate the other.
Recommended Citation:PRIVATIZATION, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2026. [Accessed: September 14, 2026].
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Today, you are likely to spend a great deal of time wandering around the downtown area looking to buy either a remote controlled sports car with an air spoiler or semi-gloss photo paper that works with your neighbor's printer. Be on the lookout for celebrities who speak directly to you through your television.
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
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"The true idealist pursues what his heart says is right in a way that his head says will work. " -- Richard Nixon, 37th US president
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NLS
National Longitudinal Survey
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