Privatization has been part of a crucial debate since Margaret Thatcher took office in 1979. It has been the main concern of the British Conservative Party, which was the first to lay the foundations for privatization in Britain's economic well-being . However, first we need to discuss what privatization is. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get an original essay According to one of the most popular definitions, “The transfer of ownership, property or business from the government to the private sector is termed as privatization. The government ceases to own the entity or business. (Economic Times Magazine/2004) Privatization is supposed to bring greater efficiency and stability to a company, something many government institutions have criticized for lacking. The profit-oriented approach of the company's owners leads to a better standard of living and efficient management of business travel. Countries like India and Britain are the best examples of privatized instituted countries that have been fully privatized due to political reform. We will discuss in detail the effect of privatization on the UK economy using the example of two main sectors, mainly the railway industry and water. Description: In the UK, although many of the large shareholder-owned companies are owned by foreign industries, many proponents of privatization believe that this has led to increased profits in the market and increasingly enriched the government scholarships. According to an article published by The Guardian in 2013 entitled "Privatisation: the good, the bad and the ugly", the author claims that industries such as the water industry and BG (British Gas plc) have started to operate increasingly more efficiently since its shareholders were sold out under the leadership of Margaret Thatcher. He quotes effectively; “Some privatizations have brought improvements for consumers. According to water and sanitation regulator Ofwat, since the privatization of the 10 state-owned regional water authorities in 1989, the number of customers at risk of low water pressure has increased. decreased by 99%. (The Guardian, 2013). Not only that, but it has also been reported that the efficiency of managing delivery times and procedures has improved significantly. Gas and water management systems have especially benefited greatly in the region from the privatization movement. It is claimed that the national debt was reduced during this period of increased economic development which included paying down the national debt and reducing overall economic stress by 12% between 1989 and 1990. According to the Harvard Business Review, John Moore writes the column "British Privatization: Taking Capitalism to the People" in which he openly defends the benefits of privatization, calling it "one of the British Conservative Party's most successful strategic reforms." He discusses the change in people's attitudes towards private ownership, arguing that it increases commitment and responsibility and strengthens the work ethic of employees involved in the process. This is, however, strangely very different from the studies discussed in many published articles and psychological evaluations which cite such claims as nonetheless baseless and unproven. When profit does not appear to accrue to the public, it may appear to disengage their interests in the quality of production in an industry. Anti-privatization debaters openly participate in this debate with..