ABSTRACT

Privatisation is a relatively new word. The word made no significant appearance in political and economic literature before 1979, when the UK Conservative Party was elected. Since then, the term 'privatisation' has rapidly become one of the most important facts of the 1980s and 1990s, with the concept spreading beyond boundaries of the UK to be adopted throughout the world. The Financial Times (1986) states that if political ideas could be copyrighted, Thatcher's government would be well on the way to achieving a runaway international best-seller.