Discuss the potential advantages and disadvantages of privatization

What will be an ideal response?

An ideal response will:
1, Define privatization and outsourcing as the transfer of government functions from the federal government to the private sector.
2, Identify and explain one or more potential advantages of privatization, such as greater efficiency of service provision by private firms, due to the fact that firms operate under fewer rules and regulations. Also, competitive bidding can drive down the cost of projects.
3, Identify and explain one or more potential disadvantages of privatization, such as concern about democratic accountability of private firms to the public, and the possibility that firms might cut corners and produce less than reliable results.