ABSTRACT
The distribution of the shares of the British Columbia Investment Corporation, March-May 1977, is an example of an early full-scale privatization. Regulators seem to be recognizing the fact, and it is the recognition that is producing the change in climate in this country favoring deregulation and privatization. Malaysia has partially privatized its airlines and some of its toll roads, and its telephone and telegraph service is listed for privatization. Other countries either have followed or plan to follow the British lead in privatizing telephone and telegraph service, airlines, bus service, public housing, and social security. The provincial government conducted the privatization in the following manner. In March 1977 it reported that a holding company, British Columbia Resources Investment Corporation, would issue shares to be distributed by the entire financial community. The British social policy of spreading ownership around the general population has been successful, but not as successful as it first appeared.
