The Privatization Effect

Fekru Debebe asserts(PDF) that :

Privatization essentially increases the role of the private sector in the national economy and induces changes in basic values and attitudes in a society. The common characteristic features of countries which rely primarily on the private sector and free markets are freedom, basic human rights and democracy. These values are important to the development of the private sector and the acceptance of privatization would initiate a fundamental shift toward democratic values...The privatization process can also be a significant positive influence in the development of African entrepreneurial talent. In the statist development strategy of the past, indigenous entrepreneurial talent had neither been solicited nor its role recognized and encouraged. As the result, local entrepreneurs moved to where domestic opportunities were open to them, the informal sector...The new spirit toward privatization and market oriented policies is likely to bring entrepreneurs into the formal sector where they can learn and be trained in the tools of modern finance, commerce, and management. As they become more skilled and educated in an environment of freedom and private enterprise they are bound to make significant contribution to economic progress of their nations.