Coupon privatization

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The coupon privatization is one of the idea of the popular capitalism excited form of privatization , at which the transformation of state property in private property through issued coupons is carried out.

As a rule, every citizen of a country receives coupons free of charge and in equal parts for each authorized person. These can be invested in stocks and bonds of state-owned companies at will.

The concept of coupon privatization was introduced in 1990 by Burkhard Wehner in The Long Farewell to Socialism. Outline of a new economic and social order under the designation reference ticket privatization presented.

Coupon privatization was carried out in the successor states of the Soviet Union , Poland and the former Czechoslovakia at the end of communism , where from June 1992, after long controversies, a considerable part of the state-owned companies was privatized.

Coupon privatization also took place in Croatia after gaining independence. However, there are said to have been numerous irregularities, which led to great resentment among the population.

When the Treuhandanstalt for the privatization of the national wealth of the GDR was founded, a system of share certificates to be issued to GDR citizens was brought up for discussion by the "Central Round Table" . The first head of the Treuhandanstalt, Peter Moreth , also spoke out in public for such a system, but was dismissed a few days later. In the State Treaty on Monetary, Economic and Social Union, Section 10 (6) stipulates the following:

"After an inventory of the nationally owned assets and their profitability as well as their priority use for the structural adjustment of the economy and for the restructuring of the state budget, the German Democratic Republic will, if possible, provide that the savers at a later date for the 2 to 1 reduced amount, a securitized share in the nationally owned assets can be granted. "

Section 26 (4) of the contract states:

“An inventory is made of the nationally owned assets. The nationally owned assets are primarily to be used for structural adjustment of the economy and for restructuring the state budget in the German Democratic Republic. "

It follows that coupons could only have been issued if the privatization had resulted in a surplus. But that was not the case (negative closing balance of the Treuhandanstalt).


Web links

Individual evidence

  1. Burkhard Wehner : The long farewell to socialism. Outline of a new economic and social order. Anton Hain, Frankfurt am Main 1990, ISBN 3-445-08563-3 .