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As both concept and process, privatization possesses ambiguous connotations and multiple meanings. Webster's Dictionary (1981) defines one related noun, privatism, as “an attitude of uncommitment or uninvolvement in anything beyond one's immediate interests,” while another associated noun, privacy, denotes a state of “withdrawal from society or the public interest” (Oxford English Dictionary, 1972). If government is a means of providing a wide range of collective goods, which do not necessarily lend themselves to market exchange, the public sector is naturally a highly visible target.⁴ At the same time, unrestrained public-sector expansion inevitably leads to public policy failure, as problems of communication, coordination, effective cost–benefit control, and revenue satiation accumulate.⁵ Privatization represents a logical reaction.