Canada’s lost decade. Most resource rich, fertile, water-abundant, energy-self sufficient, most educated country had the worst performance in the OECD. How do you fix this?
Posted by kirikoToeKisser
Canada’s lost decade. Most resource rich, fertile, water-abundant, energy-self sufficient, most educated country had the worst performance in the OECD. How do you fix this?
Posted by kirikoToeKisser
4 Comments
Alberta’s oil, unlimited energy sources from wind and water dams, more water in 1 province than the rest of the world COMBINED, no spending on military, high immigration, 0 conflicts or war, free trade with world’s biggest economy, very developed banking sector, extremely digitalized population, high internet access. And Canada could only get 1.4% growth over a decade.
It seems like California/Canada type liberalism does not work even under the most optimal environment.
Per capita growth because during this time we had the highest immigration rate of any of the OECD countries. This is mostly a statistical error and not entirely reflective of economic conditions. It looks bad now but in 10 years when all of those Eurozone countries who’ve shut their borders suddenly hit the tsunami of retired boomers pulling their pensions and health expenses, the tables will turn.
Look at the top of the chart; Ireland’s numbers are only on paper because so many major firms are using it as a tax haven, other countries are growing so fast because their economic base is a fraction of ours.
Housing housing housing
This was projected by the OECD back in 2017. It was wildly ignored by the Canadian government and dismissed by many as a baseless prediction.
Step one of solving the problem is admitting it’s a problem in the first place.