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Privatization may mean the government sells state-owned businesses to private interests, but it may also be discussed in the context of the privatization of services or government functions, where private entities are tasked with the implementation of government programs or the performance of government services.
Private property is foundational to capitalism, an economic system based on the private ownership of the means of production and their operation for profit. [4] As a legal concept, private property is defined and enforced by a country's political system .
In the US, private prison facilities housed 12.3% of all federal prisoners and 5.8% of state prisoners in 2001. Contracts for these private prisons regulate prison conditions and operation, but the nature of running a prison requires a substantial exercise of discretion. Private prisons are more exposed to liability than state run prisons. [4]
Property premium is the key concept in the system of property-based economics developed by Gunnar Heinsohn, Otto Steiger, and Hans-Joachim Stadermann.It is an insight derived from the legal distinction between property and possession which is made by jurists, but not by economists.
Real estate economists analyze supply, demand, and pricing in real estate. Real estate economics is the application of economic techniques to real estate markets.It aims to describe and predict economic patterns of supply and demand.
The military housing privatization initiative (MHPI) was established by the United States Congress in 1996 as a tool to help the military improve the quality of life for its service members by improving the condition of their housing. The MHPI was designed and developed to attract private-sector financing, expertise and innovation to provide ...
Private property access, use, exclusion and management are controlled by the private owner or a group of legal owners. [9] This is sometimes used interchangeably with private good. [17] An example would be a cellphone as it only one person may use it, making it rivalrous, and it has to be purchased, which makes it excludable.
For the greater part of the 20th century the private rented sector was in long-term decline. The combination of growth in owner-occupation and the role of city councils, borough councils, and district councils as social landlords, through public housing and latterly the housing association movement, contributed to a decline in the private rented sector.