Privatization has been part of a crucial debate ever since Margaret Thatcher took office in 1979. It was the main objective of the British Conservative Party which first laid the roots of privatization in British economic well-being. But first we need to discuss what privatization is. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get Original Essay According to one of the most popular definitions, “The transfer of ownership, ownership or assets from the government to the private sector is defined as privatization. The government ceases to be the owner of the entity or enterprise.” (economic times magazine / 2004) Privatization is intended to bring greater efficiency and stability to a business that has been criticized as lacking by many government-run institutions. The profit-oriented approach of the company's owners leads to better living standards and an efficient manner to govern work travel. Countries such as India and Britain are prime examples of privatized countries that were fully privatized due to political reform. We will discuss the effect of privatization on the UK economy in detail using the example of two main sectors, mainly railways and water. Description: In the UK, although many of the large shareholder companies are owned by foreign industries, many supporters of privatization believe that this has led to an increase in profit market and has increasingly fattened the government's purses. According to an article published by The Guardian in 2013 and entitled “Privatization: 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 manage increasingly more efficiently since its shareholders were sold during Margaret Thatcher's region. Cite efficiently; “Some privatizations have brought improvements for consumers. According to the water and sewerage 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 fallen by 99%.” (The Guardian, 2013). Not only this, but the efficiency of managing lead times and procedures has also been reported to have increased magnificently. Gas and water management systems have benefited greatly especially in the region of the privatized movement. It has been argued that the national debt was reduced during this period of increased economic development which included repaying the national debt and reducing overall economic stress by 12% from 1989 to 1990. According to the Harvard Business Review, John Moore writes the column “British Privatisation: Bringing Capitalism to the People” in which he openly argues for privatisation, calling it “one of the most successful strategic reforms of the British Conservative Party”. He discusses changing people's attitudes towards private property arguing that this increases commitment and responsibility and strengthens the work ethic of the employees involved during the process. This is, however, strangely very different from the studies discussed in many published articles and psychological evaluations which cite that such claims are unfounded and unproven anyway. When profits do not appear to flow back to the public, their interests may appear to be diverted from the quality of production in an industry. Anti-privatization advocates openly participate in this discussion with the example of the British rail industry. The British railway industry is one of the most popular examples of"..