Published in the Globe and Mail.
In evaluating courses of action, corporate decision makers tend to prioritize present and private benefits while discounting long-term costs – especially external ones imposed onto others. Economists term this “market failure,” which are to be publicly regulated by way of taxation, fines, mandates, subsidies or other “nudges.”
Such myopia is not unique to private actors, though. Politicians and public bureaucrats are typically more short-sighted, focusing on maintaining and expanding their power.
Regulatory agencies in the United States, for example, are increasingly subject to political interference and, because they are specialized, are often incapable of addressing the cascading…
Published in TVO.
Despite bold promises and billions of dollars of support, Ontario manufacturing jobs remain around the same level as when Doug Ford’s Progressive Conservatives came to power. The province needs to move past the nostalgic view of the manufacturing sector and instead focus on an economy based on innovation and advanced technologies so it can thrive in an ever-changing global economy.
Manufacturing jobs hold a special place in Ontario’s economic, social, and political mindset because of the historical role the sector has played in driving growth, jobs, and prosperity. The sector has provided jobs across the province since the early days of industrialization in the 19th century, offering opportunities for…
Oreopoulous, Skuterud - Once the envy of the world, Canada’s immigration system now lies dismantled
Published in the Globe and Mail
At the crux of economic immigration policy is the question of whether immigrant selection should prioritize current labour market needs or the human capital of applicants. Does Canada need more farmhands and delivery riders, or do we want more scientists and tech workers?
For economists, the answer is simple.
Governments should rely on competitive markets to allocate labour to where it is most productive and focus immigration on raising the average skill level of the population.
Where there are genuine labour shortages, governments can help job seekers identify opportunities but should allow competition for scarce labour to incentivize businesses to increase wages to attract…
