The trend to lower investment in the private sector began in 2015
Gross domestic product (GDP) is what economists call the totality of goods and services Canada produces. It’s often referred to as the economic pie. We all want a share of the pie. Most of us think it’s only fair that all Canadians should be able to enjoy at least a basic level of income. Therefore,…
The pandemic has taught us that life beyond the job is possible
The wage gap between men and women stubbornly persists even after adjusting for all the usual factors like education and occupation. Career and Family: Women’s Century-Long Journey Toward Equity, a new book by Harvard professor Claudia Goldin, takes a fresh look at the issue. Goldin introduces the concept of greedy jobs. These are the jobs…
Keeping a worker is easier, faster and less expensive than replacing one
Among the many challenges facing businesses today is getting and keeping enough employees. The pandemic is often blamed for the labour shortages. Many people received income maintenance payments, sometimes exceeding their previous salaries, and no longer had to work. Stopping the subsidies may or may not bring them back, although raising wages will help. Others…
And what we can do instead
In a country as rich as Canada, no one should have to go cold or hungry. But is universal basic income the answer? Income assistance and other programs provide for almost all of the poorest among us, although some always slip between the cracks. No one would describe the level of support as generous, nor…
Housing regulations often limit people to Tesla-level homes or nothing
I’m an economist, so I’m not flattered by those who say you could teach a parrot to be an economist. The bird would need to know only two words, the joke goes: supply and demand. When the supply of any good or service increases, its price goes down. If the supply decreases or is less…
We accept that the world intervenes in any plans for the future but we must still decide who gets our vote
The 2021 federal election is upon us. In Canada, we’re blessed to have fair elections, the results of which are peacefully implemented – so don’t forget to vote. There are many nations where people can’t vote. There are many more where their vote doesn’t matter because tyrants have predetermined the results or will use violence…
It’s up to you to bring in clients. The buck stops with you if your employees fail to perform
Starting your own business teaches you things you’ll never learn in a job. Here are three of them: Where the money comes from As an employee, you can expect your paycheque to arrive every week or two without fail, even if you’re sick or on vacation. At one level, you realize the money comes from…
The simple answer is no
Providing quality care for preschool children is a good thing. Children learn to socialize in groups beyond their family. They acquire the skills and readiness that will allow them to succeed in elementary school and later in life. With children well looked after, all parents are free to take jobs or pursue careers contributing to…
Universities have become scary places for any student who doesn’t share the views of the minority
Universities have changed drastically since the beginning of the 20th century. And more change is needed. Universities had already evolved from their role as places where sons (not daughters) of the wealthy and noble could acquire some of the traditional culture needed to retain their status in the leadership positions they were destined for. Practical…
Dealing with only one side of an issue – whether it’s migrating fish or electric cars – can generate more problems than it solves
Economists often talk about over-constrained problems. These are situations where there are so many goals to be reached and/or so many limitations that it’s impossible to find a solution that meets all requirements. Contrast this with advice often given to politicians to never talk about anything that can’t be fully described on a bumper sticker.…
Let’s fix what needs fixing but appreciate what we have
I celebrated Canada Day. I took the day off from work. I wore red and white. I enjoyed a barbecue with friends. I’m very glad I live in Canada. Sad, tragic things have happened in Canada. A catastrophic event has been defined as one where little children die and we’re uncovering evidence of such catastrophes…
Wind and solar power won't magically eliminate the threats to our environment
Baruch Spinoza, a 17th-century philosopher, said the future and anything we can say about it is imaginary. He was right. Despite our best efforts to foresee what the future will bring, we really don’t know what is forthcoming until the future becomes the present. The challenge of climate change has focused our attention on what…
Available workers are rarer than openings now. Smart business people will start making adjustments so we can all enjoy some prosperity
At last we’re beginning to see beyond the pandemic to a return to more normal times. Businesses are reopening. Corporations have capital to invest and are starting to do so. Thanks to government support during the pandemic, many people have savings to spend. The combination of a liberation from lockdown and all these available funds…
People who don’t have yards or nearby open spaces should come before bicyclists
Vancouver city council is considering a motion this week to turn sections of Granville Street and Commercial Drive into European-style pedestrian-friendly malls by reducing or eliminating automobile access. This is described as putting people over cars. Reducing car traffic leads to cleaner air and quieter neighbourhoods – good things. Some local businesses will benefit. But…
What we need are carefully targeted programs specifically aimed at dealing with the issues that keeps people in poverty
In a country as rich as Canada, no one should have to be hungry or homeless. We do have people who can’t provide for themselves and we rely on the government to provide a floor below which Canadians can’t fall. We have to remember that this support comes from us, the taxpayers, so we need…