Study
| EST. READ TIME 1 MIN.Focus on the Insurance Corporation of British Columbia
The Insurance Corporation of British Columbia (lCBC) was established in 1973. It was designed to replace a conventional private automobile insurance system by a state monopoly operating as a nonprofit Crown corporation. ICBC has all the characteristics of public monopolies throughout the world. The data suggest that privatizing it would be very much in the interest of British Columbians. There is a great lack of knowledge and the much misinformation that characterizes public opinion on this issue.These conditions prompted the author to write this analysis of the ICBC operation.
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Herbert Grubel
Professor Emeritus of Economics, Simon Fraser University
Herbert G. Grubel is a Senior Fellow at The Fraser Institute, and Professor Emeritus of Economics, Simon Fraser University. Hehas a B.A. from Rutgers University and a Ph.D. in economics from Yale University. He has taught full-time at Stanford University, the University of Chicago, and the University of Pennsylvania; and has had temporary appointments at universities in Berlin, Singapore, Cape Town, Nairobi, Oxford, and Canberra. Herbert Grubel was the Reform Party Member of Parliament for Capliano-Howe Sound from 1993 to 1997, serving as the Finance Critic from 1995 to 1997. He has published 16 books and 180 professional articles in economics dealing with international trade and finance and a wide range of economic policy issues.… Read more