As part of its push to expand to accommodate jet flights, the Billy Bishop Toronto City Airport has been advertising that it contributes $1.9 billion to Toronto’s economy. This claim is based on a study that the airport commissioned from InterVISTAS, an airline industry consultancy. The study estimates the airport’s economic impact as of March 2012, not the proposed expansion […]
Read moreAs part of our continuing special series celebrating the 50th anniversary of the publication of Mel Watkins’ classic article, “A Staple Theory of Economic Development,” we present here an innovative and provocative commentary by Brendna Haley, Ph.D. candidate at Carleton University and author of several recent works on green industrial policy. Haley argues there is an intersection between the “staples […]
Read more In her important new book “The Entrepreneurial State” which got a rave review from Martin Wolf in the Financial Times, University of Sussex economist Mariana Mazzucato attacks the conventional view that the role of the state should be largely confined to promoting free markets, correcting market failures, and maintaining a low spending, pro free enterprise climate to facilitate private sector […]
Read moreToday, Statistics Canada reported an unemployment rate of 6.9% for September. One might have expected Canada’s unemployment rate falling below 7% for the first time since 2008 to be cause for celebration. But as Statistics Canada noted, the decline in official unemployment reflected youth dropping out of the job market rather than any notable increase in employment. Of course, one […]
Read moreThis is the text of remarks I made today to Vancouver city council on divestment. Earlier this year, Council requested that staff report back on how the city’s financial investments align with the city’s mission and values, and various ethical programs like the city’s purchasing policy and the greenest city initiative. So the meeting was essentially about the contents of […]
Read moreAs part of our special series celebrating the 50th anniversary of the publication of Mel Watkins’ classic article, “A Staple Theory of Economic Development,” we present the following commentary by Dan Ciuriak. Dan was the co-author of a provocative IRPP paper earlier this year on the need for a modern, revitalized industrial policy capacity in Canada. Here he imagines how […]
Read moreI have the following opinion piece in the latest (September 2013) edition of The Commonwealth, accompanied by this disclaimer: “The views expressed in this article do not necessarily represent the official position of the Saskatchewan NDP.†Comparing the NDP and Sask. Party Employment Records Right-wing politicians often win elections by presenting themselves as good economic managers. British Columbia’s provincial election […]
Read moreThe much respected progressive economist, and my long time friend and intellectual soulmade, Kari Polanyi Levitt, having just turned 90, has published a book of no less than 16 scholarly articles, all written in the past 25 years and mostly much more recently. Its title, From the Great Transformation to the Great Financialization: On Karl Polanyi and Other Essays (published […]
Read more(The following is slightly adapted from a short piece on page 3 in the new issue of Economy at Work, the quarterly publication I produce for CUPE, which also covers a lot of other relevant issues.)  It’s been a little over four years since Canada’s economy bottomed out in mid 2009. While we didn’t suffer as deep a recession as many other […]
Read moreThe Saskatchewan Party has appropriated the province’s name, flag and football team. More recently, it asserted a new symbol of Saskatchewan patriotism: the proposed Keystone XL pipeline. Earlier this year, provincial energy and resources minister Tim McMillan had the following letter in Regina’s Leader-Post: Province Needs XL (January 28, 2013) I write in regard to recent Leader-Post coverage of the […]
Read moreThe next installment in our special series of commentaries celebrating the 50th anniversary of Mel Watkins’ classic article on staple theory, focuses our attention on the latest staple boom to remake Canada’s economy: the bitumen sands of northern Alberta. The author is Gordon Laxer, founding Director of the Parkland Institute at the University of Alberta.
Read morePolitical commitments on climate action, to the extent they exist, are usually pitched in terms of targets and timelines. BC, for example, has a legislated target of 33% below 2007 levels by 2020; Canada’s official target is a 17% reduction by 2020 relative to 2005 levels. Neither target will be met under status quo policy, which is, de facto, to […]
Read moreFor the next installment in our special series of commentaries marking the 50th anniversary of Mel Watkins’ classic article, “A Staple Theory of Economic Development,” we provide excerpts from the preface to an edited collection of Mel’s writings assembled by Hugh Grant and David Wolfe, which provides some great personal perspective on Mel’s personality and passion. Mel Watkins as Teacher, Scholar […]
Read moreSask. Party spin appears to be growing even faster than the province’s population. Today’s Saskatchewan government news release quotes Premier Wall as saying, “We have the strongest job growth and lowest unemployment in Canada.†By what measure does Saskatchewan have the strongest job growth? Statistics Canada’s Labour Force Survey indicates that employment grew by 2.9 per cent in Saskatchewan and 3.6 […]
Read moreHere is the first contribution to our special series of commentaries marking the 50th Anniversary of the publication of “A Staple Theory of Economic Growth,” by Mel Watkins, in the Canadian Journal of Economics and Political Science.  The author, Abe Rotstein, was a colleague with Mel at the University of Toronto, and a founder of the Committee for an Independent […]
Read moreIn my job as economist for Unifor (and before that the CAW), I have had a long-time interest in more sustainable and sensible policies for managing Canada’s resource wealth. The challenge, given the lucrative but fleeting nature of resource booms, is to leverage Canada’s resource wealth in a manner that stimulates a more diversified, inclusive, and sustainable economy. Market-driven approaches, […]
Read moreMost of us know the old adage, “An ounce of prevention is worth a pound of cure.” Â Â That’s why we’re told by teachers to keep our kids home from school when they’re sick, so they get better and they don’t get others sick as well. Â It’s why there’s increased focus on leading healthy lives, prevention and wellness. However, the benefits […]
Read moreAnother year, another dead Canadian tech giant. Blackberry was sold yesterday for scrap to the Toronto private equity firm Fairfax. The purchase price of $4.7 billion is essentially valued at its cash of $2.6 billion and the value of its patents. Blackberry’s active businesses are being valued at essentially nothing. If Fairfax can stop the incredible burn rate of $1 […]
Read moreThe rise and fall (and rise?) of Blackberry is a story that has gripped our attention, and not just because it affects so many Canadians. It’s because this tumultuous story has more plot twists than a thriller. Yesterday the company stole the spotlight yet again with news that its future might not be dashed after all, thanks to a home-grown […]
Read moreAs the referendum on whether to privatize Regina’s wastewater plant nears, the Regina Leader-Post is printing a column a day advocating the P3: John Gormley on Friday, Bruce Johnstone on Saturday, and Murray Mandryk today. Johnstone and Mandryk repeat three of the City’s key claims. Gormley only gets to one of these claims because he mostly just attacks the messenger, […]
Read moreToday, Statistics Canada reported inflation of 1.1% for August, even lower than June and July. But even at this anemic level, inflation is eating up three-quarters of wage gains. The Labour Force Survey indicates that Canada’s average hourly wage rose by only 1.5% between August 2012 and August 2013. Subdued inflation and the weak job market both argue for the […]
Read moreThe City of Regina is engaged in a controversial debate about a proposed public private partnership (P3) for the city’s wastewater plant. Residents formed a Regina Water Watch group to keep the facility public. They collected enough names to take the issue to a municipal referendum on September 25th, despite attempts by the city to disallow signatures on spurious grounds.  […]
Read moreI’ve mentioned differences between Statistics Canada’s R8 measure and the U.S. Bureau of Labour Statistics’ U6 measure before, but I think it’s worth covering again. R8 is Canada’s broadest measure of unemployment, and includes discouraged workers, workers waiting for a job to begin, and a portion of involuntary part-time. The most recent value for R8 was 10.3% in August, down […]
Read moreThis piece was first published in the Globe and Mail’s Economy Lab. Five years after a global economic crisis unleashed chaos on markets everywhere, income inequality has become an inescapable political and economic issue, in Canada as elsewhere. That’s because of mounting evidence that the increasingly skewed distribution of gains from economic growth slows future growth potential, and erodes trust that a […]
Read moreToday, Statistics Canada reported a large monthly drop of 10,900 for July in the number of Canadians receiving regular Employment Insurance (EI) benefits. Its press release noted, “This decline brings the number of beneficiaries to a level similar to that observed before the start of the labour-market downturn in 2008.†But the number of unemployed workers remains stuck at 1.4 […]
Read moreEvery month, Statistics Canada comes out with the unemployment rate, and every month it gets a lot of attention. But the unemployment rate provides quite limited information about the actual health of the labour market. The addition of two other pieces of information nearly doubles the unemployment rate: the proportion of the labour market employed part-time but looking for more […]
Read moreCanada is now the second biggest market for public private partnerships (P3s) in the world, as a recent Conference Board report showed (on page 30, see my initial critique here). P3s are big business: Canadian governments closed deals on a reported $7 billion in P3 contracts in both 2010 and 2011. This was the highest in the world in 2010 […]
Read moreThis piece was  published today in the Globe and Mail’s Economy Lab. Two findings stand out in the National Household Survey (NHS) data released Wednesday, both critical in this post-recession era of uncertainty: 1) A quarter of Canadian households spent 30 per cent or more of their pre-tax income on shelter, the official measure of housing affordability. 2) There was virtually no change […]
Read moreUnfortunately the following note to readers from today’s release of the third and final set of data from the National Household Survey by Statistics Canada speaks for itself: Note to readers Comparability of low-income estimates Low-income estimates from the 2011 National Household Survey (NHS) compared with previous censuses show markedly different trends than those derived from other surveys and administrative data such as […]
Read moreCanada’s Harper-ment is getting increasingly desperate. The quest to double production out of the Alberta tar sands needs new pipelines (or rail). In recent months, we have seen new proposals for pipelines to the west and to the east, amid further delays of the KeystoneXL pipeline to the south. The success of US activists (environmentalists, but also first nations, farmers […]
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