En matière d’inflation, il se peut qu’à force de crier au loup, la bête surgisse pour de vrai. Il suffit que tout le monde y croie et se comporte comme tel, pour que l’inflation apparaisse. A contrario, si tous les agents économiques pensent que l’inflation restera en moyenne à 2 %, il y a de bonnes chances que cette conviction s’autoréalise. D’où, pour une banque centrale, l’importance névralgique de l’ancrage des anticipations. J’exagère un peu, mais pas tellement. De fait, l’économie est toujours balayée par des vents contraires qui poussent l’inflation à la hausse ou à la baisse. Mais si les anticipations sont bien arrimées, la banque centrale n’aura pas à beaucoup changer son taux directeur pour que les comportements s...
In a Post op-ed earlier this spring, “Why Canada’s toothless Competition Bureau can’t go after Big Tech,” Vass Bednar and Robin Shaban argued that Canada’s competition authorities are unable to “protect consumers from the dominance of Big Tech firms like Google and Facebook.” They advocated turning the Competition Bureau, a law enforcement agency, into an agency that investigates, and may even impose penalties or remedial action for conduct that has the potential to be anti-competitive. And they proposed giving the Bureau the power to seize data or compel production of business documentation for “market studies” from entities that are not even being formally investigated. As a 2017 report from the C.D. Howe...
Toronto is a creative, resilient city. The underlying strength of our economy, built on world-leading talent and diverse, innovative local businesses, will enable us to rebound from the COVID-19 pandemic. That is the good news. Tackling the uneven impact of the current crisis — disastrous for some sectors but profitable for others, devastating for many people but enriching for others — will take hard work and tough choices. As members of the city’s Economic and Culture Recovery Advisory Group, we are committed to building an inclusive economic recovery that not only gets the economy and our cultural realm back on track, but also remedies the structural inequities that create barriers to prosperity for many of our racialized and...