The merits of a marketplace model for public education have been among the most prominent themes in education policy discussions over the last two decades. Advocates of market approaches to education reform contend that creating a market in educational services will foster competition among providers and thus spur delivery of better services at the same or lower cost than providing them through traditional public schools. It is clear that the policy preferences of the past 25 years have increasingly leaned toward privatization. These preferences have been expressed in repeated efforts to promote educational vouchers and by the advocacy of "strong" state charter school laws. Most recently, the reauthorization of the Elementary and Secondary Education Act, popularly known as the "No Child Left Behind" Act (NCLB), has accelerated the three decade-long trend toward private, for-profit activities in public education. This article provides an overview of privatizing initiatives in K-12 public education and discusses current policies that encourage the expanded involvement of the private sector. The authors also discuss the implications of privatizing activities for aspiring and practicing teachers. (Contains 2 tables and 2 notes.)