Saylor.org's Comparative Politics/Privatization in Government by
Chris Edwards Governments on every continent have sold off
state-owned assets to private investors in recent decades.
Airports, railroads, energy utilities, and many other assets
have been privatized. The privatization revolution has
overthrown the belief widely held in the 20th century that
governments should own the most important industries in the
economy. Privatization has generally led to reduced costs,
higher-quality services, and increased innovation in formerly
moribund government industries. The presumption that government
should own industry was challenged in the 1980s by British Prime
Minister Margaret Thatcher and by President Ronald Reagan. But
while Thatcher made enormous reforms in Britain, only a few
major federal assets have been privatized in this country.
Conrail, a freight railroad, was privatized in 1987 for $1.7
billion. The Alaska Power Administration was privatized in 1996.
The federal helium reserve was privatized in 199