Block copolymers are prepared by living-type or semi-living type free radical polymerization, with said copolymers having at least one random block comprised of at least one hydrophobic monomer and at least one hydrophilic monomer. The selection of hydrophobic and hydrophilic monomers in the random block is determined by the relative hydrophobicity of the monomers to impart selected solubility or dispersability in water and/or alcohols of the overall block copolymer.