Published online by Cambridge University Press: 02 January 2018
“Rarely In History has an innovation in economic and financial policy caught on as quickly in as many different countries as privatization,” trumpeted the Financial Times (1987) recently. In Europe and the United States in the 1980s, victorious conservatives led an assault on the state (both its welfare and productive arms), but the movement included more than just conservative free marketeers. Spanish socialists were privatizing, and Communist party leaders in China and the Soviet Union introduced farreaching market reforms. Privatization also became a constant theme in policy debates in the Third World, though the ratio of discussion to implementation was low except in cases such as Chile and Togo.
The author is grateful to John Waterbury, Carlos Bazdresch, Kathy Thelen, Charles Gillespie, Albert Hirschman, and Denise Dresser for comments on an earlier draft, and to the Pew Charitable Trusts and the Center for International Studies at Princeton University for research support.