As part of the consultation process on proposed reforms by the Task Force for the Payments System Review, Philippe Bergevin, Policy Analyst at the C.D Howe Institute, and Todd J. Zywicki from the International Center for Law and Economics and George Mason University School of Law, have submitted a document entitled “The Way We Should Pay” that provides a number of recommendations to revamp the Canadian payments regulatory and governance framework. In their submission, authors Bergevin and Zywicki explore the current state of the payment system in Canada within a global context and discuss the strong economic principles that should guide the work of the Task Force. Building on a robust framework of innovation and competition, the submission aims to positively orient the Task Force’s future decisions, while continually reaffirming the negative impact that can result from misaligned institutional incentives.
