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This study maps the developed and developing world, covering the political, economic and socio-cultural dimensions, pointing out the impediments and hazards on the way and providing a preview of the path ahead. It provides an insight into the theoretical and practical aspects of privatization in the United Kingdom, Eastern Germany, post-communist societies, developing countries and India. An endeavour is made to look beyond privatization by focusing on the non-economic dimensions of privatizations - historical, cultural, political and non institutional. An attempt is made to unravel the intrigues of privatization in an objective and analytical manner.