Posted: February 19th, 2022
There is a huge and forceful drive toward privatization throughout many states and in numerous sectors of the economy, particularly in the educational sector, which accounts for a major share of public expenditure. It is the transfer of operations, assets, and liabilities from public organizations and bodies to private corporations and institutions known as privatization. Privatization is sometimes confused with ‘liberalization,’ which refers to the transfer of state ownership, or ‘financialization,’ which refers to establishing new firms to replace government-run services or procurement mechanisms.
With a focus on standardized tests, openness, and economic independence, neoliberalism is having a significant impact on education. Learners, guardians, educators, institutions, and foreign and local government organizations have all expressed dissatisfaction with neoliberalism, according to Lo (2017). Almost wherever we go these days, there is evidence that education is seen as a valuable business asset. Parents scour ‘ college markets ‘ for the information when it comes to obtaining the “best” school for their children. Stakeholders are increasingly discussing improvements in children’s reading comprehension abilities in terms of their economic impact.
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