Study
| EST. READ TIME 1 MIN.Free Market Zones
Free economic activity zones, or free market zones as they are often called, have generated many economic and social benefits and have proven politically acceptable in an increasing number of industrialized and developing countries. In these designated zones, industries such as banking, insurance, international trade, and enterprise are almost totally deregulated. Canada has not as yet taken advantage of the benefits associated with the establishment of such zones.
Author, Herbert Grubel, looks at the benefits and costs from a Canadian perspective and recommends, through the selected reduction or elimination of regulations, controls, and taxes, the implementation of free market zones in certain geographically defined areas. He concludes that economic activities in these zones would expand rapidly, resulting in increased employment and productivity combined with an improved balance of payments position for Canada.
-
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