... the world. In developed and developing countries, privatisation is one of the most revolutionary innovations in the recent history of economic policy. The policy of privatisation of public enterprises has been adopted and implemented variably at the global level since the 1980s. The British Prime Minister, Margaret Thatcher and U.S President, Ronald Reagan were the two political leaders behind this global policy movement. According to A. Farazmund, " they both came to power with an agenda to reverse the growth of their governments and their administrative welfare states which were begun in the 1930s". 2 By the 1970s most capitalist nations and all socialist governments had experienced a major failure in their corporate and government leadership with a growing rate of national debt and budget deficits. Both groups of nations were unable to continue the trend and were forced to adopt major changes which included reorganization, reform, structural adjustment and ...

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