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The C.D. Howe Institute is an independent not-for-profit research institute whose mission is to raise living standards by fostering economically sound public policies. Widely considered to be Canada's most influential think tank, the Institute is a trusted source of essential policy intelligence, distinguished by research that is nonpartisan, evidence-based and subject to definitive expert review.

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01 Mar 2017
Mar
01
You have probably heard of bitcoin. You might have even heard about its underlying technology, the blockchain. What you may not have realized is that it is not bitcoin that will change our lives, but other applications of blockchain technology in areas such as payments, contracts and the provision of government services. Blockchain technology in its simplest form allows transactions to occur between individuals and institutions without the need for a third party. This would entail a big change for financial services firms. Since the Renaissance period, they have relied on a double-entry bookkeeping system whereby each transaction requires a debit on the asset side and a credit on the liability side. This form of record-keeping has...
22 Feb 2017
Feb
22
No one likes the word deficit. In government finance it means you spend more than what you raise in revenue. And in trade it means you import more than you export. U.S. President Donald Trump has repeatedly pointed to widening trade deficits with countries such as China and Mexico as proof positive that his predecessors have made bad trade deals. But it is misleading to think of trade deficits in that way. At the very least, the reality is far more nuanced. First, imports have a beneficial impact. More countries selling to the U.S., or Canada, means more affordable goods for consumers, which has helped boost what’s called the “C” variable — consumer spending. In the U.S., in fact, if we remove food and energy from the equation,...
20 Feb 2017
Feb
20
U.S. President Donald Trump’s expansionary fiscal-policy plans and activist trade policies are on a collision course that could lead to a trade war. To avoid that war, it’s vital that U.S. tax reforms be revenue-neutral and geared at expanding the supply side of the economy. Now is not the right time for debt-financed “stimulus.” That policy would only lead to larger trade deficits and more pressure on Mr. Trump to adopt protectionist trade policies. To provide wise counsel to our American friends and to prepare for a trade war should it erupt, Canadians must understand why Mr. Trump’s policies are on a collision course. Mr. Trump is proposing large tax cuts, a rise in defence spending and a large infrastructure program. If...

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© 2014 C.D. Howe Institute. All Rights Reserved.

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© 2014 C.D. Howe Institute. All Rights Reserved.