To stir Great Britain from its economic malaise, in 1979 Conservative Prime Minister Margaret Thatcher initiated the selling off of state-owned enterprises to the private sector. It was the purpose of her "privatization" program to reverse England's devolution into socialism and it has worked with remarkable success. So successfully, in fact, that there has been a phenomenal growth in the number of European and third world nations that have followed her lead and initiated privatization programs of their own.
Precisely how broad in scope Thatcher's program is and how it is progressing is the subject of Privatization in Great Britain by Peter Young of the Adam Smith Institute. With the Reagan Administration expressing its desire to privatize and contract out more government services as one means of reducing the cost and size of the federal bureaucracy, American readers should find this an informative article.