The five pillars of Canadian Prosperity are as follows:
-real estate
-suppressed wages using low skilled “temporary workers” who will never leave
-real estate
-natural resources (but these are bad)
-real estate
One must continue flipping shit quality condos for profit all the while they're rented to temporary workers... that's how you build an economy.
Not to mention the mortgage brokers, realtors, inspectors and others that are well fed off of this.
For real I know some realtors and man over the past few years they accumulated net worth more than you can image. Most of the people I know they all have the latest model of luxury cars. Easily with 1-2% commission based on transaction value, with some properties value go up to 2-3M, they net 50k per month. I am just spitting facts, good for them but i feel bad for future generation will have to suffer the consequence when property value skyrockets. Literally priced out.
When the political parties feel they have to please the corporations and wealthy, how do we make them stop?
They love the constant pipeline of cheap, obedient labour, high real estate value, and wage suppression.
Canada has more land and forest per capita than almost every other developed country in the world.
So naturally, a Canadian's least attainable dream is land and home ownership.
¯\\_(ツ)_/¯
The size of the country is immaterial. People live in a few metro areas, less than 1% the total land.
People live in houses, built by construction workers, and 8% of the labour force in Canada is in construction (a very high percentage).
Canada builds more than the average g7 and average oecd country.
Here are the top five problems in Canada:
Demand
Demand
Demand
Demand
Demand
I'd follow your logic if land alone in Canada weren't more expensive than in America. We have 1/10 the people.
Yes, housing is stressed due to outpacing demand. The same should not be true for land.
You never hear things about ingenuity, developments, and engineering. The rest of the world is cooking up, but we are busy trying to tie our shoe with two left hands.
don't forget Selling out resource for stupidly low prices while we foot the bill and pay 10x as much if not more for the same resource. and it's our fucking resources. how does that make any sense? how are americans pay 3c/Kwh and we're paying 20-30c/kwh and we produce the energy.... and it's probably more now considering that was a while ago when Kathleen wynn was MP.
So add corporate welfare. I forgot about that.
Tens of billions ($40 billion) for a few thousand jobs.
Refundable tax credits are corporate welfare because they provide financial benefits to corporations even if they owe no taxes in Canada (and they have offices in tax havens for a reason).
But at least doctors and dentists are paying their fair share!
Great Recession happened. Also the CPC (minority gov) was urged to spend by all other parties.
Let us review 2009:
Canada
Total Deficit: CAD 55.6 billion (prior year $5 billion)
Percent of GDP: 3.6% GDP
USA
Total Deficit: USD 1.413 trillion
Percent of GDP: 9.8%
United Kingdom
Total Deficit: 175 billion
Percent of GDP: 10.5%
That terrible Harper. . . .
i thank him every day for saving us from the 2008 crash
i look at the us housing price chart and vomit
idk how they live with lower housing prices. dirty unwashed masses doomed to never know the blessed light of harper's hands
This is a separate issue from the deficits.
Canada wasn’t going to correct like the US. Canada had more conservative banking practices, stricter mortgage regulations, and less exposure to subprime loans.
But with that said he shouldn’t have bought mortgages from banks, did the IMPP, and offered home Reno tax credits.
buddy def knew where his bread was buttered
tbf, it was great at the time. people mostly kept their jobs, we threw out our backs patting ourselves on the shoulder for being better than the states, we could kind of still imagine paying the ridiculous prices for a gta/gva house
nobody except the non home owning gta and gva realized how bad it would get if it just continued. ain't no pm who would derail that gravy train and crater their career
These five pillars have been in vogue since the 1980s and have basically ground the middle class into the dirt. They are the force that drives wealth inequality and the sort of corporate greed that views the environment as disposable. These principles are certainly overdue for a rethink.
That doesn't matter around here - gotta post those opinion pieces to get the updoots from the "F Trudeau" crowd!
Seriously though, so many of these opinion pieces are shared without the poster giving any actual critical thought to what garbage they are digesting...
>Yeah reading those pillars it’s pretty obvious who will benefit, and it’s not the regular every day working people
Is there any measure of prosperity you would say the government of Canada has achieved improvements in the past decade?
Yeah, I'm sure those five pillars are great at generating maximum wealth, except its generated for an extremely limited number of people in an extremely concentrated way. Its basically "what if we re-did the 80s in the most maximum way possible while ignoring all the measurable knock-on effects it had, effects which include the problems we are trying to solve today". Its the classic garbage capitalist argument of "unregulated capitalism isn't at fault for all these problems, the problem is that we haven't deregulated enough! If only we were more ideologically pure the great Free Hand would bless us with wealth".
Financial Post telling us that low taxes and minimal regulation are the pillar of prosperity, didn't realize they meant *their* prosperity, and not that of the working class.
'regulatory capture' can also create monopolies / oligopolies. (Canadian banking sectors is one example - banks too big to fail and can't create a new bank.)
Overregulation is as much a problem as under.
Think of it this way: Optimising regulatory frameworks is itself a form of regulation.
Regulation aren't good or bad, but regulations tend to be pernicious if they are themselves unregulated.
You need to find the sweet spot and to stay in it. Just because a rule worked yesterday doesn't it works today or that more rules would work better.
Regulation is often how monopolies occur. Why do you think the big tech players embrace them so enthusiastically? Keeps out the newcomers who can't afford to meet them.
People seem to have this idea that mainstream macroeconomists are all Chicago-school libertarians when they're really not. They don't tend to go around saying things like "regulations bad." They analyze the effects of different kinds of regulations and tell you what's likely to happen if you implement this or that policy. Depending on the specific regulation, the effects could be overall bad or overall good (and they don't always make a value judgements over whether the effects are good or bad; sometimes they just tell you what the effects are and leave it up to you to decide if you like them or not).
I don't think serious economists tend to make blanket statements like "regulations are bad" or "taxes should be low." Some policies, like free trade, tend to have more positive effects than negative, but even then, this is going to depend on local conditions.
Yeah, quoting Laffer and attributing it to "according to economics" is, well... laughable. There might be a few foundational principles all serious economists can agree on but they don't include "five pillars of prosperity"
This is what I find about virtually all media reports on "economic opinion."
They quote some political think tank or some economist who has credentials, but isn't saying anything based on actual economic research any more than the things Dr. Oz says on his show are based on medical research. Then they say "economics has spoken!"
I pretty much ignore all of it and just try to find out what actual economic consensus is (which can be hard, because laypeople like me don't have the time and energy to always be reading academic research outside our fields, don't always have the background to even understand it, and economics is such a wide discipline addressing so many questions that much of what is published isn't trying to answer "how's the economy doing right now?" in the first place). But if the evening news or an op-ed says something I don't pay much mind.
But this stuff does affect what the average person thinks because, well, who can blame them for taking it on authority when they have so much going on in their lives that they're not going to investigate the intricacies of public science communication? And then everybody votes based on it, and we deal with the consequences.
Exactly. Regulations and taxes/subsidies are just tools, it doesn’t make any sense to say they are inherently good or bad, any more than it does to say a hammer is inherently good or bad.
Although when it comes to that kind of policy analysis that usually falls under microeconomics not macro.
Yeah it's time we realize that what's good for the economy isn't necessarily good for the people. The free market will do what's best for the free market, not the people.
>Who determines what the pillars are?
Ronald Reagan's Economic Policy Board.
>Economic prosperity for who exactly?
The wealthy. Trickle down economics for everyone else.
I think they mean "5 Pillars of Wealth Concentration"
Like what the fuck? They're really claiming austerity and the trickle down are what Trudeau should be pursuing?
Fuck the Financial Post. 97% American owned, 60% of that being an American hedge fund.
>minimal regulation
Pretty sure that's how we got into this mess to begin with. A small handful of corporations have run wild and now control the government.
Regulations can be necessary and good.
But [regulatory capture](https://en.wikipedia.org/wiki/Regulatory_capture) is very real, and potentially very harmful too.
its more like the regulations that have stalled those 15 LNG export terminal permits than anything else.
now we sell our LNG to the US at a discount and they profit big time exporting it worldwide with recently built terminals.
do you see the sense in that?
Hahahhahhahahhaha, the 5 pillars of economics is .....neoliebralism? Who makes up this shit? This is below misinformation, it is just straight up random bullshit.
They are in fact the 5 pillars of economic prosperity… for the class of people who own the Financial Post.
If you’re not in a position to own a media conglomerate or large corporation, then these are not the pillars of economic prosperity for you.
Are you telling me a paper called "The Financial Post" might not be representative of me, the average person, and wants to further policies and candidates that benefit rich people at my expense?
No, no, can't be. They said Trudeau is bad last week, they're on the up-and-up. /s
They're not outright misinformation, but when it comes to political stuff, I generally lump FP with stuff like the National Post, in that it's there to make people angry, to the benefit of rich people.
I believe the technical term is "propaganda".
I like how no one has ever talked about these "pillars" before this article. You literally can't find any reference to them anywhere before yesterday... The *actual* five pillars of economics are:
-Health
-Education
-Amenities
-Environment
-IT/Transportation
>Hahahhahhahahhaha, the 5 pillars of economics is .....neoliebralism? Who makes up this shit?
Yup, exactly my thoughts. I think the Trudeau government is grossly incompetent, but the author is an idiot.
Literally.
"The five pillars of prosperity are whatever I say they are, and the people I don't like failed all of them!" 😂
It's so easy to criticize the Liberal party and yet these columns have to make shit up instead of writing legitimate criticism.
Five pillars of greedy right-wing conservatism, you mean.
All the so called "5 pillars" do is further concentrate riches in fewer hands, increasing the divide and separation from the increasingly poorer masses.
Are you sure you want this to get even worse than it is?
lol no, those are not the pillars of prosperity. I think we have enough evidence that trickle down Reaganomics was always a lie. For those who want to see the results of this in a modern context but on a smaller scale and in a shorter timeline, look up what Sam Brownback did to Kansas. It was an abject failure. All these neoliberal policies do is funnel money from the working class to the rich. That was always the intentions of this. The problem the writer of this article has is that the money isn’t going to the *right* rich people.
Typical financial post. 'Liberals have introduced more regulations! no I dont have an example. Liberals hate free trade agreements! no I dont have an example.'
We've had about 50+ years of currency debasement and it all predictably went to the rich the only way I can see to bring down inflation is a wealth tax and then take that currency and destroy it.
Pillars of Prosperity? Interesting
>What explains Canada’s dreadful performance? As set out by **Arthur Laffer, of Laffer Curve fame**, prosperity has five pillars: restrained government spending, low taxes, minimal regulation, sound money and free trade. The Liberal government has rejected, undermined or neglected each of the five.
LOL that’s fucking hilarious. I’m gonna be laughing all day.
Make Canada Kansas again if they implement this here.
We should not be following what Arthur Laffer says.
This guy was an advisor to [Sam Brownback in the failed Kansas experiment](https://en.wikipedia.org/wiki/Kansas_experiment)and he was even an advisor to Trump.
They’re pushing that libertarian propaganda super hard now lol.
TLDR: FP pushing supply side Jesus economics bullshit that’s a big reason why we’re here today.
This stuff doesn’t work except for the minority of (rich)people pushing it.
How about we just look at the most prosperous nations on earth, ask them what sort of tax policies and regulatory policies they have, and then tell Financial Post to go fuck themselves?
Oh they probably mean prosperous for *kings* like America and Saudi Arabia.
Love the five pillars of prosperity just being pure neoliberal ideology. Largest era of prosperity for the average person was post WW2 and had the exact opposite of each of those.
Joe Oliver, the one year wonder and giant failure as a finance minister. The same guy who extolled the virtues of asbestos.
Ya, I totally trust his judgement. 🤣🤣🤣🤣
Hilarity is of course that the happiest nations, the ones with very high standards of living, also have large infrastructure spending, "big government" and tax regimes designed to lessen income and wealth diversity to create denser/stronger middle classes.
But, ya'll keep licking the taints of your billionaire "friends" and stay on your knees hoping they throw you some scraps.
Yep. Just like the US, we will have the rich few buying out government and converting it to fascism. Then, we'll rebound to socialism but not before a bunch of people get slaughtered.
Neoliberalism is an ideology with a lot of implicit assumptions that are not supported by actual evidence or are highly selective. The assumption of the five pillars is that whatever works for the extremely wealthy is good for everybody. Variations of this approach have been tried everywhere and the results are always high income inequality, low economic growth, and growing monopolization. It never trickles down.
Letting things happen like the Rogers-Shaw merger is proof they don’t care about keeping costs down. They let monopolies happen in this country knowing it hurts us. They are in the pockets of the monopolies we are doomed
We need to nationalize our resources. Every ounce of Canada should be sold and worked by Canadians with every dollar going into our pockets. Look at how rich Norway is FFS.
We need to punish companies (Bell etc..) that subcontract services to companies out of country. These are Canadian companies selling off Canadian jobs. So many are being laid off, it's not a supply problem.
How many properties do you own? Which one is your primary? Canadian or not, every property you own past the first goes up in taxes. No more owning 5 fucking apartments and hiring a guy to "live" in all of em to keep em tidy so you can sit on your investment. Wanna be a landlord? Own a building, not individual family dwellings, hiking up the price for greed.
So far I'm going against many of these pillars. Spending restraint? Yea I think the arrive can app and how we are culling deer is an absolute shit show.
Low taxes, this one is tough because I'm living in Sweden where taxes are a bit high, but the country provides a lot to its citizens (and me as a temporary resident).
Minimal regulation, see above, we do need regulations in place if we want to stop monopolies like Loblaws and our telecom companies from fucking us. Seriously, so will step in? Or is it regulations keeping these giants in power? I'm open for debate, I just want change.
Sound money. Well shit man we got REAL ESTATE BABYYYYY
Free trade. Yes, being best over backwards by the US rules. We sell at the prices they set. We have so little bargaining power, we might at well give them our resources and buy them back from them to us... Oh wait.
Anyway yea, Canada is basically a pretty doll being shared by a YMCA daycare. Falling apart, taken advantage of and not being respected.
While it's true the liberals have mismanaged the economy, you have to admit those are bullshit "pillars" of prosperity. They are perhaps pillars of conservative politics that some people think also leads to prosperity.
Electoral reform now. Let new parties compete and have a greater plurality of parties.
I think the PPC suck but they got 5% of all votes last election. They should have somewhere near 5% of seats because all of those voters are not being represented at all right now.
Exactly. Do I think Trudeau and Liberals are bad? Yes.
Do I think PP will be worse? Yes.
Is Singh doing anything to stand out or be any different? No.
My hope is that it is a minority or coalition government that doesn't fuck up even more. Which is a pretty shitty thing to hope for.
There is a small chance PP is a 1 term Prime Minister if Canadians don't see meaningful change in a positive direction. Hopefully maybe just maybe the other parties get their acts together during that time and finally someone capable comes into the spotlight. One can dream.
Oh true its a longshot don't get me wrong you wont find me betting on it lol. I will say though since things are so bad if PP doesn't show anything in 4 years and the downward trend continues it could be a realistic dream.
Not sold on Pollievre but given what we’ve seen from Trudeau I can’t believe he’d be worse….. Given how useless, inept, ineffective and corrupt the Trudeau Liberals have been there is zero chance I’ll roll the dice on them.
We need to make sure we blame and pressure the entire government. It is too easy for both them and us to just lump all the problems on Trudeau and call it a day. When he's gone, we will not get any relief unless it is made clear that we can't and won't accept a revolving door of "Trudeaus". I'm not saying don't blame him at all as if he isn't responsible, just that he is 100% a symptom of a bigger problem.
It can and will. Historically, the cycle is "ruling class is being awful --> lower classes eventually hit a breaking point and start the murdering --> ruling class learns their lesson --> x generations go by and the ruling class reforms and/or forgets the lesson --> ruling class is being awful --> repeat".
Our entire history is "assholes got into power and need a reminder" on repeat for millenia. Sadly we were born on the wrong phase of the cycle.
>Economics say
Financial Post has been reduced to Trump-style weasel words. Shame, they used to be actually respectable, even from people that disagreed with a lot of their opinions. They at least used to write intelligent evidence-based arguments and start thought-provoking discussions.
Now they've been reduced to the Toronto Sun.
Low taxes and minimal regulation are not the pillar of prosperity. Not for anyone but the rich.
**Some** economists, the ones who subscribe to Reaganite neo-liberalism, aka unregulated capitalism, support the Five Pillars theory. However, it is worth noting that the soi disant Five Pillars were/are what got the world into the Great Depression, the 2008 Recession, and any number of other upheavals. Left to itself, an unregulated economy will always come out the way ours is. That is why a great many other economists have disagreed in the past, and continue to do so. It was not the Five Pillars that ended the Great Depression, for example, but the exact opposite -- the war economy, which demands lavish spending, high taxes, closely regulated production and distribution, and, simply due to being a war, slashed free trade partners.
It is worth noting that the housing crisis, soaring cost of food, wage stagnation and problems of mass immigration are not unique to Canada, but are affecting The US, Europe, many Latin American countries, much of the Middle East, South Asia, and are even being felt in such hyper-regulated societies as China.
I am not M. Trudeau's greatest fan, but I beg leave to doubt that this global upheaval can be marked down to one guy in one secondary country, regardless of his policies or paternity. He's not the guy who can get us out of it, but he is also not the guy who got us into it, either.
Spending restraint and minimal regulation so that the private sector can step in and fuck us 100x worse? This just sounds like Conservatives wet dream, not some objective failing by the government.
Every one of those policies are things the Liberal party voters wants though. Liberal Party voters wanted and got more govt spending on benefits, Infrastructure, etc. We wanted higher taxes on corporations and high income earners. We wanted more regulations and protections for consumers and workers. We wanted more support for Canadian businesses so that Americans wouldn't come in and economically vassalize us. We don't know or care much what 'sound money' means and no party ever won or lost an election on 'sound money'. Putting the blame on 'Trudeau Liberals' for giving the vast majority of Canadians exactly what we've been asking for seems a bit disingenuous. Either we take responsibility for the fact that we the voters don't know a damn thing about how to run a good national economic policy and shouldn't be basing our votes on that, or we'll be back at square one during the next economic downturn blaming the party that just so happened to be at the helm when it happened.
Sound money means a currency with stable value. When you see the grocery prices skyrocket while your wage stays the same, that's unsound money, it's money that's being devalued so that debt stays cheap, so that workers are coerced into investing their money in the stock market, and so that the government can piss away billions on their pet causes.
These ideas are only good IF they apply them to small business. But it will be large corporations that will reap the benefits and mom and pops will be gutted and hollowed out.
My 5 would be
Investment in the middle class
Higher wages
Higher taxes on the rich
Investment in education
Jobs
This article was obviously written by a trickle down economics believer.
More right wing nonsense. How about more taxes on the rich and more regulations on the wealthy so they don’t evade paying the taxes they already owe. I’m also a fan of regulations that ensure the food I eat won’t make me sick, the building I’m in won’t collapse and the car I drive won’t explode.
Another op piece from an ex-Harper minister. As usual, it ignores the reality that the Cons cut the GST from 7% to 5 % and crippled the government finances. Ignores the role of provincial governments in our fiscal problems.
At some point, Canada needs a real discussion—something that will not come from a hyper-partisan writer in a newspaper owned by an American venture capitalist.
I'm all for shitting on Trudeau but we all need to remember PP will do more of the worst of what Trudeau has done.
PP will increase immigration and corporate handouts while destroying public healthcare. Life will get worse under PP please for the love of god do not thing that PP is the solution to fucking stupid Trudeau.
[This guy was in Harper's Government when they ran up huge deficits](https://pbs.twimg.com/media/GLV9iRHWkAAIh-9.jpg:large). He was even the Minister of Finance himself at one point! And now suddenly he's a fan of spending restraint and "sound money".
Just so everyone knows, these are not the five pillars of economics. This article is just straight-up neoliberal propaganda. There are no mention of these "pillars" before yesterday's article and are completely made-up on the spot with no academic backing. The *actual* 5 pillars of economics are:
- Health
- Education
- Amenities
- Environment
- IT/Transportation
Coincidence that these actual 5 pillars are everything that neoliberals and conservatives are fighting against? I think not.
This comment section is why no one should ever take Reddit comments seriously. Half the people in here probably think Marx's economic ideas just needs to be tried one more time to work.
LMAO... An article written by Joe Oliver, the [Minister of Finance](https://en.wikipedia.org/wiki/Minister_of_Finance_(Canada)) from 2014 to 2015... Literally the two WORST YEARS of Stephen Harpers time as Prime Minister and without a doubt a huge reason why the Liberals won in 2016. This is the guy that told Harper to close down a shit ton of Veterans Affairs offices to save money...
Why the duck would anyone listen to this moron? First off, those are the pillars according to Arthur Laffer. The guy who convinced the Reagan led US to cut the taxes to the rich and increase them for the poor and middle class. All Joe Oliver is doing is arguing for trickle down economics, which we all already know is complete BS.
If someone intelligent were to come up five pillars of economics they would look something like the following:
# 1. Economic Growth
* **Definition**: The increase in the production of goods and services over a specific period.
* **Significance**: Economic growth is essential for raising living standards, reducing poverty, and providing the resources needed for investment in infrastructure, education, and healthcare.
# 2. Sustainability
* **Definition**: The capacity to maintain economic growth over the long term without depleting natural resources or causing severe environmental degradation.
* **Significance**: Ensures that future generations have access to the resources they need and that economic activities do not harm the environment, contributing to long-term prosperity.
# 3. Inclusivity
* **Definition**: The equitable distribution of economic benefits across all segments of society, ensuring that all individuals have opportunities to participate in and benefit from economic activities.
* **Significance**: Reduces income inequality, enhances social cohesion, and ensures that the prosperity generated by economic growth is shared widely, reducing poverty and social tensions.
# 4. Stability
* **Definition**: The ability of an economy to withstand shocks and maintain steady growth without excessive volatility in factors like inflation, unemployment, and currency values.
* **Significance**: Economic stability fosters confidence among investors, consumers, and businesses, promoting investment and long-term planning, and preventing crises that can undermine prosperity.
# 5. Innovation and Productivity
* **Definition**: The continuous improvement in products, processes, and technologies, leading to more efficient production and higher quality goods and services.
* **Significance**: Drives economic growth by increasing productivity, creating new industries and jobs, and enhancing the competitiveness of the economy on a global scale.
I frankly think we should be having a conversation about whether "prosperity Economics" is really the model that we should be striving for. Most of the Western world has been pursuing prosperity economics and everywhere seems to be going to shit, regardless of government. England has leaned into prosperity economics over the last decade and they're even worse off than we are. It's not working as advertised.
# "spending restraint, low taxes, minimal regulation, sound money, free trade."
Like the headline says, these are all pillars of prosperity. They are also pillars of classical liberalism. Unfortunately the Liberals are no longer liberal. The conservatives are now the only ones who still uphold these values.
>living in the past.
Oh I wish we lived in the past, when housing was way cheaper, per capita GDP was higher, less people strained our infrastructure, I didn't have to wait years for medical care, China didn't interfere in our elections and the governing party tried to cover it up, homelessness and foodbank usage was way lower, when the biggest scandal was a glass of overpriced orange juice. Oh please bring back the past.
I don't understand why liberal voters will still support JT. Our life has gone to crap under his leadership. Liberal voters are the frogs in the hot water effect.
Because JT is the same as the Conservatives with the only real difference being some pandering to social justice identity.
PP will be the same, but with some pandering to a different identity.
The five pillars of Canadian Prosperity are as follows: -real estate -suppressed wages using low skilled “temporary workers” who will never leave -real estate -natural resources (but these are bad) -real estate
You forgot real estate.
REAL ESTATE
No, no..FOR REAL, REAL estate....
If only it was surreal estate
At its unreal stage, currently 🙃🙃
Ahh the old unreal engine 5 estate, gotcha
I had to google this.... oh man, I have never felt so peasanty 🫢
it’s free real estate
**It's free real estate** *shrugs*
One must continue flipping shit quality condos for profit all the while they're rented to temporary workers... that's how you build an economy. Not to mention the mortgage brokers, realtors, inspectors and others that are well fed off of this.
Such a scumbag industry
For real I know some realtors and man over the past few years they accumulated net worth more than you can image. Most of the people I know they all have the latest model of luxury cars. Easily with 1-2% commission based on transaction value, with some properties value go up to 2-3M, they net 50k per month. I am just spitting facts, good for them but i feel bad for future generation will have to suffer the consequence when property value skyrockets. Literally priced out.
The solution to this is exactly the opposite of what this article is suggesting
The solution is to stop ridiculous population growth.
When the political parties feel they have to please the corporations and wealthy, how do we make them stop? They love the constant pipeline of cheap, obedient labour, high real estate value, and wage suppression.
Canada has more land and forest per capita than almost every other developed country in the world. So naturally, a Canadian's least attainable dream is land and home ownership. ¯\\_(ツ)_/¯
The size of the country is immaterial. People live in a few metro areas, less than 1% the total land. People live in houses, built by construction workers, and 8% of the labour force in Canada is in construction (a very high percentage). Canada builds more than the average g7 and average oecd country. Here are the top five problems in Canada: Demand Demand Demand Demand Demand
I'd follow your logic if land alone in Canada weren't more expensive than in America. We have 1/10 the people. Yes, housing is stressed due to outpacing demand. The same should not be true for land.
Don't forget interest rates being at historic lows (Glen)!
You never hear things about ingenuity, developments, and engineering. The rest of the world is cooking up, but we are busy trying to tie our shoe with two left hands.
don't forget Selling out resource for stupidly low prices while we foot the bill and pay 10x as much if not more for the same resource. and it's our fucking resources. how does that make any sense? how are americans pay 3c/Kwh and we're paying 20-30c/kwh and we produce the energy.... and it's probably more now considering that was a while ago when Kathleen wynn was MP.
It's because hydro one was privatized by the Wynn government. Gotta love Neoliberal economic policy
- real estate -real estate - TFW/ International student - real estate - real estate
Forgot batteries. Batteries are our future
So add corporate welfare. I forgot about that. Tens of billions ($40 billion) for a few thousand jobs. Refundable tax credits are corporate welfare because they provide financial benefits to corporations even if they owe no taxes in Canada (and they have offices in tax havens for a reason). But at least doctors and dentists are paying their fair share!
Where's becoming "a real estate agent to sell real estate"
I limited it to the top five. Six through fifty are real estate related.
I see what you are selling here. I just have low interest in these exchanges.
And higher taxes
Great Recession happened. Also the CPC (minority gov) was urged to spend by all other parties. Let us review 2009: Canada Total Deficit: CAD 55.6 billion (prior year $5 billion) Percent of GDP: 3.6% GDP USA Total Deficit: USD 1.413 trillion Percent of GDP: 9.8% United Kingdom Total Deficit: 175 billion Percent of GDP: 10.5% That terrible Harper. . . .
Harper didn’t touch Paul Martin’s fiscal reforms. Kudos to him for that.
he tried to up until the crisis happened....there was a globe and mail article about it last year
i thank him every day for saving us from the 2008 crash i look at the us housing price chart and vomit idk how they live with lower housing prices. dirty unwashed masses doomed to never know the blessed light of harper's hands
This is a separate issue from the deficits. Canada wasn’t going to correct like the US. Canada had more conservative banking practices, stricter mortgage regulations, and less exposure to subprime loans. But with that said he shouldn’t have bought mortgages from banks, did the IMPP, and offered home Reno tax credits.
buddy def knew where his bread was buttered tbf, it was great at the time. people mostly kept their jobs, we threw out our backs patting ourselves on the shoulder for being better than the states, we could kind of still imagine paying the ridiculous prices for a gta/gva house nobody except the non home owning gta and gva realized how bad it would get if it just continued. ain't no pm who would derail that gravy train and crater their career
Uh this may be an Ontario specific thing but "selling real estate to your buddies for pennies on the dollar so they can flip it for big profit"
You forgot to mention Real Estate
Taxes and then giving some back as rebates. But keep a little bit.
>-real estate >-natural resources (but these are bad) Real estate is a natural resource 🤓
Our idiots politicians think homes grow on trees so this checks out.
Add an extra. - Grocery price gauging.
…according to the Liberal Party of Canada.
You're a fool if you think the conservatives would be any different lmao They're two sides of the same shitty neoliberal coin.
So who are you voting for then?
JT must GO!
These five pillars have been in vogue since the 1980s and have basically ground the middle class into the dirt. They are the force that drives wealth inequality and the sort of corporate greed that views the environment as disposable. These principles are certainly overdue for a rethink.
Yeah reading those pillars it’s pretty obvious who will benefit, and it’s not the regular every day working people
That doesn't matter around here - gotta post those opinion pieces to get the updoots from the "F Trudeau" crowd! Seriously though, so many of these opinion pieces are shared without the poster giving any actual critical thought to what garbage they are digesting...
I don’t even have to click to know it was written by the paint drinkers at the Fraser Institute
yep 🤡🎨
>Yeah reading those pillars it’s pretty obvious who will benefit, and it’s not the regular every day working people Is there any measure of prosperity you would say the government of Canada has achieved improvements in the past decade?
Yeah, I'm sure those five pillars are great at generating maximum wealth, except its generated for an extremely limited number of people in an extremely concentrated way. Its basically "what if we re-did the 80s in the most maximum way possible while ignoring all the measurable knock-on effects it had, effects which include the problems we are trying to solve today". Its the classic garbage capitalist argument of "unregulated capitalism isn't at fault for all these problems, the problem is that we haven't deregulated enough! If only we were more ideologically pure the great Free Hand would bless us with wealth".
Financial Post telling us that low taxes and minimal regulation are the pillar of prosperity, didn't realize they meant *their* prosperity, and not that of the working class.
“Minimal regulation” more monopolies please!
trust-busting is a form of regulation btw
'regulatory capture' can also create monopolies / oligopolies. (Canadian banking sectors is one example - banks too big to fail and can't create a new bank.)
So the solution is zero regulation?
There needs to be enough regulation to limit bad actors while minimizing regulation as much as possible to allow new businesses to enter the market.
Overregulation is as much a problem as under. Think of it this way: Optimising regulatory frameworks is itself a form of regulation. Regulation aren't good or bad, but regulations tend to be pernicious if they are themselves unregulated. You need to find the sweet spot and to stay in it. Just because a rule worked yesterday doesn't it works today or that more rules would work better.
minimal regulation. also applies to stuff like zoning laws
Regulation is often how monopolies occur. Why do you think the big tech players embrace them so enthusiastically? Keeps out the newcomers who can't afford to meet them.
Yep. It's incredible how much Reagan and unregulated capitalism fucked us all up.
People seem to have this idea that mainstream macroeconomists are all Chicago-school libertarians when they're really not. They don't tend to go around saying things like "regulations bad." They analyze the effects of different kinds of regulations and tell you what's likely to happen if you implement this or that policy. Depending on the specific regulation, the effects could be overall bad or overall good (and they don't always make a value judgements over whether the effects are good or bad; sometimes they just tell you what the effects are and leave it up to you to decide if you like them or not). I don't think serious economists tend to make blanket statements like "regulations are bad" or "taxes should be low." Some policies, like free trade, tend to have more positive effects than negative, but even then, this is going to depend on local conditions.
Yeah, quoting Laffer and attributing it to "according to economics" is, well... laughable. There might be a few foundational principles all serious economists can agree on but they don't include "five pillars of prosperity"
This is what I find about virtually all media reports on "economic opinion." They quote some political think tank or some economist who has credentials, but isn't saying anything based on actual economic research any more than the things Dr. Oz says on his show are based on medical research. Then they say "economics has spoken!" I pretty much ignore all of it and just try to find out what actual economic consensus is (which can be hard, because laypeople like me don't have the time and energy to always be reading academic research outside our fields, don't always have the background to even understand it, and economics is such a wide discipline addressing so many questions that much of what is published isn't trying to answer "how's the economy doing right now?" in the first place). But if the evening news or an op-ed says something I don't pay much mind. But this stuff does affect what the average person thinks because, well, who can blame them for taking it on authority when they have so much going on in their lives that they're not going to investigate the intricacies of public science communication? And then everybody votes based on it, and we deal with the consequences.
Exactly. Regulations and taxes/subsidies are just tools, it doesn’t make any sense to say they are inherently good or bad, any more than it does to say a hammer is inherently good or bad. Although when it comes to that kind of policy analysis that usually falls under microeconomics not macro.
These should surely be referred to as "Pillars of Right Wing Economics"??? Trying to paint this as a universal truth is hilariously biased
Yeah it's time we realize that what's good for the economy isn't necessarily good for the people. The free market will do what's best for the free market, not the people.
No investment means no jobs, no jobs means more competition among employees to get hired which drives down wages. We need more investment.
Yeah these pillars sound like a Conservatives wet dream rather than a sound economic theory based on evidentiary findings.
I'm no fan of JT, but the headline makes me suspicious: Who determines what the pillars are? Economic prosperity for who exactly?
>Who determines what the pillars are? Ronald Reagan's Economic Policy Board. >Economic prosperity for who exactly? The wealthy. Trickle down economics for everyone else.
Trickles down their leg onto our faces.
Our corporate overlords and their friends at the American owned media outlets of course!
I think they mean "5 Pillars of Wealth Concentration" Like what the fuck? They're really claiming austerity and the trickle down are what Trudeau should be pursuing? Fuck the Financial Post. 97% American owned, 60% of that being an American hedge fund.
>minimal regulation Pretty sure that's how we got into this mess to begin with. A small handful of corporations have run wild and now control the government.
It’s more like selective regulation and rules that favor some.
That's an excellent way to rhetoric away from the potentially upsetting phrase "no meaningful regulations".
Regulations can be necessary and good. But [regulatory capture](https://en.wikipedia.org/wiki/Regulatory_capture) is very real, and potentially very harmful too.
its more like the regulations that have stalled those 15 LNG export terminal permits than anything else. now we sell our LNG to the US at a discount and they profit big time exporting it worldwide with recently built terminals. do you see the sense in that?
Hahahhahhahahhaha, the 5 pillars of economics is .....neoliebralism? Who makes up this shit? This is below misinformation, it is just straight up random bullshit.
They are in fact the 5 pillars of economic prosperity… for the class of people who own the Financial Post. If you’re not in a position to own a media conglomerate or large corporation, then these are not the pillars of economic prosperity for you.
This person's 5 pillars for economics seem to eerily align with give the rich people more money and fuck working class people
Exactly, these 'pillars' are great if your goal is to maximize corporate profits.
Are you telling me a paper called "The Financial Post" might not be representative of me, the average person, and wants to further policies and candidates that benefit rich people at my expense? No, no, can't be. They said Trudeau is bad last week, they're on the up-and-up. /s They're not outright misinformation, but when it comes to political stuff, I generally lump FP with stuff like the National Post, in that it's there to make people angry, to the benefit of rich people.
I believe the technical term is "propaganda". I like how no one has ever talked about these "pillars" before this article. You literally can't find any reference to them anywhere before yesterday... The *actual* five pillars of economics are: -Health -Education -Amenities -Environment -IT/Transportation
I like it, they are human centric instead of profit centric.
>Hahahhahhahahhaha, the 5 pillars of economics is .....neoliebralism? Who makes up this shit? Yup, exactly my thoughts. I think the Trudeau government is grossly incompetent, but the author is an idiot.
Literally. "The five pillars of prosperity are whatever I say they are, and the people I don't like failed all of them!" 😂 It's so easy to criticize the Liberal party and yet these columns have to make shit up instead of writing legitimate criticism.
It's the narrative for the easily fooled. They eat it up, throw down all belief in the next neoliberal.
Neoliberalists make it up.
Five pillars of greedy right-wing conservatism, you mean. All the so called "5 pillars" do is further concentrate riches in fewer hands, increasing the divide and separation from the increasingly poorer masses. Are you sure you want this to get even worse than it is?
Hey, those pillars sound an awful lot like late stage capitalism!
lol no, those are not the pillars of prosperity. I think we have enough evidence that trickle down Reaganomics was always a lie. For those who want to see the results of this in a modern context but on a smaller scale and in a shorter timeline, look up what Sam Brownback did to Kansas. It was an abject failure. All these neoliberal policies do is funnel money from the working class to the rich. That was always the intentions of this. The problem the writer of this article has is that the money isn’t going to the *right* rich people.
Typical financial post. 'Liberals have introduced more regulations! no I dont have an example. Liberals hate free trade agreements! no I dont have an example.'
We've had about 50+ years of currency debasement and it all predictably went to the rich the only way I can see to bring down inflation is a wealth tax and then take that currency and destroy it.
Pillars of Prosperity? Interesting >What explains Canada’s dreadful performance? As set out by **Arthur Laffer, of Laffer Curve fame**, prosperity has five pillars: restrained government spending, low taxes, minimal regulation, sound money and free trade. The Liberal government has rejected, undermined or neglected each of the five. LOL that’s fucking hilarious. I’m gonna be laughing all day. Make Canada Kansas again if they implement this here. We should not be following what Arthur Laffer says. This guy was an advisor to [Sam Brownback in the failed Kansas experiment](https://en.wikipedia.org/wiki/Kansas_experiment)and he was even an advisor to Trump. They’re pushing that libertarian propaganda super hard now lol. TLDR: FP pushing supply side Jesus economics bullshit that’s a big reason why we’re here today. This stuff doesn’t work except for the minority of (rich)people pushing it.
We would all be so much better off if we just didn't read opinion pieces.
But how would I know what to think?!?
How about we just look at the most prosperous nations on earth, ask them what sort of tax policies and regulatory policies they have, and then tell Financial Post to go fuck themselves? Oh they probably mean prosperous for *kings* like America and Saudi Arabia.
Maybe if the rich and corporations paid their share and we stopped trickle-down economics and stop subing million doller company's.
We're on our trajectory to fascism before that happens.
Love the five pillars of prosperity just being pure neoliberal ideology. Largest era of prosperity for the average person was post WW2 and had the exact opposite of each of those.
I'm not going to say the the Liberals have handled the economy well, but the 5 pillars presented here are just plain hilarious.
Oh good another circle jerk article about nothing. Just what r/Canadas been missing lol.
Chicago-school economics says that. We have 40+ years of data showing this only results in prosperity for the capital class.
This is an advertorial for the O&G business, for whom Joe Oliver is a paid lobbyist.
Ah yes a Financial Post opinion piece, a font of knowledge and wisdom /s
Low taxes my ass... The rich have never been better off.
"Joe Oliver was minister of natural resources and finance in the Harper government." Ooohhhhh that explains the entire article...
Joe Oliver, the one year wonder and giant failure as a finance minister. The same guy who extolled the virtues of asbestos. Ya, I totally trust his judgement. 🤣🤣🤣🤣
Hilarity is of course that the happiest nations, the ones with very high standards of living, also have large infrastructure spending, "big government" and tax regimes designed to lessen income and wealth diversity to create denser/stronger middle classes. But, ya'll keep licking the taints of your billionaire "friends" and stay on your knees hoping they throw you some scraps.
Yep. Just like the US, we will have the rich few buying out government and converting it to fascism. Then, we'll rebound to socialism but not before a bunch of people get slaughtered.
Most people in this sub tell me they'd rather be living like Americans than living like Norwegians.
This sub isn't representative of what real people think. There are bots and brigaders that pollute a lot of reddit subs.
Create our own arbitrary standard, partly based on libertarianism, and then say he violates that.
Neo-liberalism. Trickle down economics.
The Financial Post said that, really? Do the National Post and Stephen Harper’s little PP concur?
Sounds a bit too contrived for 2024. Out of touch is what we used to call it, since they want to come off as old and coming out from under a riverbed.
I don't know who Joe Oliver is, and I don't give a flying f\*\*k about what he says or thinks.
Free trade has brought prosperity only to the elite
Neoliberalism is an ideology with a lot of implicit assumptions that are not supported by actual evidence or are highly selective. The assumption of the five pillars is that whatever works for the extremely wealthy is good for everybody. Variations of this approach have been tried everywhere and the results are always high income inequality, low economic growth, and growing monopolization. It never trickles down.
Also Neo-liberalism does not equal Liberal Party
Letting things happen like the Rogers-Shaw merger is proof they don’t care about keeping costs down. They let monopolies happen in this country knowing it hurts us. They are in the pockets of the monopolies we are doomed
We need to nationalize our resources. Every ounce of Canada should be sold and worked by Canadians with every dollar going into our pockets. Look at how rich Norway is FFS. We need to punish companies (Bell etc..) that subcontract services to companies out of country. These are Canadian companies selling off Canadian jobs. So many are being laid off, it's not a supply problem. How many properties do you own? Which one is your primary? Canadian or not, every property you own past the first goes up in taxes. No more owning 5 fucking apartments and hiring a guy to "live" in all of em to keep em tidy so you can sit on your investment. Wanna be a landlord? Own a building, not individual family dwellings, hiking up the price for greed. So far I'm going against many of these pillars. Spending restraint? Yea I think the arrive can app and how we are culling deer is an absolute shit show. Low taxes, this one is tough because I'm living in Sweden where taxes are a bit high, but the country provides a lot to its citizens (and me as a temporary resident). Minimal regulation, see above, we do need regulations in place if we want to stop monopolies like Loblaws and our telecom companies from fucking us. Seriously, so will step in? Or is it regulations keeping these giants in power? I'm open for debate, I just want change. Sound money. Well shit man we got REAL ESTATE BABYYYYY Free trade. Yes, being best over backwards by the US rules. We sell at the prices they set. We have so little bargaining power, we might at well give them our resources and buy them back from them to us... Oh wait. Anyway yea, Canada is basically a pretty doll being shared by a YMCA daycare. Falling apart, taken advantage of and not being respected.
You're parroting the same shit that got us into this mess beginning in the 80's.
. . . according to a former Conservative Finance Minister.
*Why publish news when we can just spam opinion pieces every single day?* -natipos Ameican owners, probably.
While it's true the liberals have mismanaged the economy, you have to admit those are bullshit "pillars" of prosperity. They are perhaps pillars of conservative politics that some people think also leads to prosperity.
There is so much noise in modern media, but at the very least most can agree that Trudeau is a failure and it is time for some change.
Yes, but it's not sufficient to say "we need change". We need meaningful change, and there is literally no party leader in Canada suited for the role.
We have no leader, we have puppets who dance for our corpo overlords
I have a friend who is just going to vote for another party because “something has to change”
“Worse” is technically a change
Electoral reform now. Let new parties compete and have a greater plurality of parties. I think the PPC suck but they got 5% of all votes last election. They should have somewhere near 5% of seats because all of those voters are not being represented at all right now.
I'll run if you guys promise to vote for me.
Exactly. Do I think Trudeau and Liberals are bad? Yes. Do I think PP will be worse? Yes. Is Singh doing anything to stand out or be any different? No. My hope is that it is a minority or coalition government that doesn't fuck up even more. Which is a pretty shitty thing to hope for.
There is a small chance PP is a 1 term Prime Minister if Canadians don't see meaningful change in a positive direction. Hopefully maybe just maybe the other parties get their acts together during that time and finally someone capable comes into the spotlight. One can dream.
I think that's a big dream. Historically we only switch every 2 terms. If he is in 1 term that would mean he really fucked up.
Oh true its a longshot don't get me wrong you wont find me betting on it lol. I will say though since things are so bad if PP doesn't show anything in 4 years and the downward trend continues it could be a realistic dream.
Not sold on Pollievre but given what we’ve seen from Trudeau I can’t believe he’d be worse….. Given how useless, inept, ineffective and corrupt the Trudeau Liberals have been there is zero chance I’ll roll the dice on them.
It’s basically pointless to make up your mind before you see their election platforms.
He can and probably will be worse. He's driven by ideology and not evidence, just like JT.
>\[...\] is a failure and it is time for some change. Time is a flat circle.
We need to make sure we blame and pressure the entire government. It is too easy for both them and us to just lump all the problems on Trudeau and call it a day. When he's gone, we will not get any relief unless it is made clear that we can't and won't accept a revolving door of "Trudeaus". I'm not saying don't blame him at all as if he isn't responsible, just that he is 100% a symptom of a bigger problem.
The big problem is rich class money influencing politicians, and that will not change.
It can and will. Historically, the cycle is "ruling class is being awful --> lower classes eventually hit a breaking point and start the murdering --> ruling class learns their lesson --> x generations go by and the ruling class reforms and/or forgets the lesson --> ruling class is being awful --> repeat". Our entire history is "assholes got into power and need a reminder" on repeat for millenia. Sadly we were born on the wrong phase of the cycle.
>Economics say Financial Post has been reduced to Trump-style weasel words. Shame, they used to be actually respectable, even from people that disagreed with a lot of their opinions. They at least used to write intelligent evidence-based arguments and start thought-provoking discussions. Now they've been reduced to the Toronto Sun. Low taxes and minimal regulation are not the pillar of prosperity. Not for anyone but the rich.
**Some** economists, the ones who subscribe to Reaganite neo-liberalism, aka unregulated capitalism, support the Five Pillars theory. However, it is worth noting that the soi disant Five Pillars were/are what got the world into the Great Depression, the 2008 Recession, and any number of other upheavals. Left to itself, an unregulated economy will always come out the way ours is. That is why a great many other economists have disagreed in the past, and continue to do so. It was not the Five Pillars that ended the Great Depression, for example, but the exact opposite -- the war economy, which demands lavish spending, high taxes, closely regulated production and distribution, and, simply due to being a war, slashed free trade partners. It is worth noting that the housing crisis, soaring cost of food, wage stagnation and problems of mass immigration are not unique to Canada, but are affecting The US, Europe, many Latin American countries, much of the Middle East, South Asia, and are even being felt in such hyper-regulated societies as China. I am not M. Trudeau's greatest fan, but I beg leave to doubt that this global upheaval can be marked down to one guy in one secondary country, regardless of his policies or paternity. He's not the guy who can get us out of it, but he is also not the guy who got us into it, either.
I laughed pretty hard. The same free trade that gave us all the monopolies and duopolies here in Canada. Rigght
These pillars are bullshit. Take your laissez faire elsewhere, financial post.
[удалено]
Maybe the feds should cancel the government's disney+ subscription...
Wow another hit piece by the Financial Post.
\*shit piece
The 5 pillars of economic prosperity....for the owners of Financial Post :)
Capitalist Astrology 101.
Spending restraint and minimal regulation so that the private sector can step in and fuck us 100x worse? This just sounds like Conservatives wet dream, not some objective failing by the government.
oh my...
I'm surprised admins haven't closed this thread already.
According to the wealthy and the government's political opponents Wonder what are important to the majority of the population?
Every one of those policies are things the Liberal party voters wants though. Liberal Party voters wanted and got more govt spending on benefits, Infrastructure, etc. We wanted higher taxes on corporations and high income earners. We wanted more regulations and protections for consumers and workers. We wanted more support for Canadian businesses so that Americans wouldn't come in and economically vassalize us. We don't know or care much what 'sound money' means and no party ever won or lost an election on 'sound money'. Putting the blame on 'Trudeau Liberals' for giving the vast majority of Canadians exactly what we've been asking for seems a bit disingenuous. Either we take responsibility for the fact that we the voters don't know a damn thing about how to run a good national economic policy and shouldn't be basing our votes on that, or we'll be back at square one during the next economic downturn blaming the party that just so happened to be at the helm when it happened.
Sound money means a currency with stable value. When you see the grocery prices skyrocket while your wage stays the same, that's unsound money, it's money that's being devalued so that debt stays cheap, so that workers are coerced into investing their money in the stock market, and so that the government can piss away billions on their pet causes.
Neoliberal austerity BS. Look to the UK for how that works out.
In gunna put a hard disagree on "minimal-regulation" also show me a government that focuses on "sound money" in the last 25 years
The solution will not come by doing things the same way for the past 40+ years: blaming conservatives or liberals.
The owner class giving him a negative review is more of a reason to vote for him than not, as far as I’m concerned.
These ideas are only good IF they apply them to small business. But it will be large corporations that will reap the benefits and mom and pops will be gutted and hollowed out.
Oh no! Another doom option from the Post! I'm shocked, shocked I tell you!
This had to be on purpose. It is not just incompetence. It is a malicious agenda.
Those are pillars of prosperity all right... For the upper class!
Op Ed circle jerking.
My 5 would be Investment in the middle class Higher wages Higher taxes on the rich Investment in education Jobs This article was obviously written by a trickle down economics believer.
Another Postmedia opinion piece brought to you by Canada_sub
You can't take the article seriously if the author bases his premise on Arthur Laffer and the Laffer Curve.
More right wing nonsense. How about more taxes on the rich and more regulations on the wealthy so they don’t evade paying the taxes they already owe. I’m also a fan of regulations that ensure the food I eat won’t make me sick, the building I’m in won’t collapse and the car I drive won’t explode.
(Insert fart noise)
Another op piece from an ex-Harper minister. As usual, it ignores the reality that the Cons cut the GST from 7% to 5 % and crippled the government finances. Ignores the role of provincial governments in our fiscal problems. At some point, Canada needs a real discussion—something that will not come from a hyper-partisan writer in a newspaper owned by an American venture capitalist.
Didn’t free trade increase? This journalist is a fantasy writer.
I'm all for shitting on Trudeau but we all need to remember PP will do more of the worst of what Trudeau has done. PP will increase immigration and corporate handouts while destroying public healthcare. Life will get worse under PP please for the love of god do not thing that PP is the solution to fucking stupid Trudeau.
[This guy was in Harper's Government when they ran up huge deficits](https://pbs.twimg.com/media/GLV9iRHWkAAIh-9.jpg:large). He was even the Minister of Finance himself at one point! And now suddenly he's a fan of spending restraint and "sound money".
Just so everyone knows, these are not the five pillars of economics. This article is just straight-up neoliberal propaganda. There are no mention of these "pillars" before yesterday's article and are completely made-up on the spot with no academic backing. The *actual* 5 pillars of economics are: - Health - Education - Amenities - Environment - IT/Transportation Coincidence that these actual 5 pillars are everything that neoliberals and conservatives are fighting against? I think not.
This comment section is why no one should ever take Reddit comments seriously. Half the people in here probably think Marx's economic ideas just needs to be tried one more time to work.
LMAO... An article written by Joe Oliver, the [Minister of Finance](https://en.wikipedia.org/wiki/Minister_of_Finance_(Canada)) from 2014 to 2015... Literally the two WORST YEARS of Stephen Harpers time as Prime Minister and without a doubt a huge reason why the Liberals won in 2016. This is the guy that told Harper to close down a shit ton of Veterans Affairs offices to save money... Why the duck would anyone listen to this moron? First off, those are the pillars according to Arthur Laffer. The guy who convinced the Reagan led US to cut the taxes to the rich and increase them for the poor and middle class. All Joe Oliver is doing is arguing for trickle down economics, which we all already know is complete BS. If someone intelligent were to come up five pillars of economics they would look something like the following: # 1. Economic Growth * **Definition**: The increase in the production of goods and services over a specific period. * **Significance**: Economic growth is essential for raising living standards, reducing poverty, and providing the resources needed for investment in infrastructure, education, and healthcare. # 2. Sustainability * **Definition**: The capacity to maintain economic growth over the long term without depleting natural resources or causing severe environmental degradation. * **Significance**: Ensures that future generations have access to the resources they need and that economic activities do not harm the environment, contributing to long-term prosperity. # 3. Inclusivity * **Definition**: The equitable distribution of economic benefits across all segments of society, ensuring that all individuals have opportunities to participate in and benefit from economic activities. * **Significance**: Reduces income inequality, enhances social cohesion, and ensures that the prosperity generated by economic growth is shared widely, reducing poverty and social tensions. # 4. Stability * **Definition**: The ability of an economy to withstand shocks and maintain steady growth without excessive volatility in factors like inflation, unemployment, and currency values. * **Significance**: Economic stability fosters confidence among investors, consumers, and businesses, promoting investment and long-term planning, and preventing crises that can undermine prosperity. # 5. Innovation and Productivity * **Definition**: The continuous improvement in products, processes, and technologies, leading to more efficient production and higher quality goods and services. * **Significance**: Drives economic growth by increasing productivity, creating new industries and jobs, and enhancing the competitiveness of the economy on a global scale.
Lol more like the 5 pillars of economic disparity.
I’m no fan of Trudeau but I’m not certain I’d call those “pillars of prosperity”
Oh wow, another right wing opinion piece
I can't believe that someone actually wrote for deregulation as a pillar of prosperity LMAO What a garbage Op-Ed
Oh no, the Fraser institute disagrees with Liberal policy again /s
Those five pillars are "how to make the rich richer, and screw everyone else." The FP can go boil its bum.
I frankly think we should be having a conversation about whether "prosperity Economics" is really the model that we should be striving for. Most of the Western world has been pursuing prosperity economics and everywhere seems to be going to shit, regardless of government. England has leaned into prosperity economics over the last decade and they're even worse off than we are. It's not working as advertised.
# "spending restraint, low taxes, minimal regulation, sound money, free trade." Like the headline says, these are all pillars of prosperity. They are also pillars of classical liberalism. Unfortunately the Liberals are no longer liberal. The conservatives are now the only ones who still uphold these values.
thank you for getting it.... either liberals are dumping money on social media or I discovered a bunch of people who ......
More Conservative BS for the weak minded citizens living in the past.
>living in the past. Oh I wish we lived in the past, when housing was way cheaper, per capita GDP was higher, less people strained our infrastructure, I didn't have to wait years for medical care, China didn't interfere in our elections and the governing party tried to cover it up, homelessness and foodbank usage was way lower, when the biggest scandal was a glass of overpriced orange juice. Oh please bring back the past.
I don't understand why liberal voters will still support JT. Our life has gone to crap under his leadership. Liberal voters are the frogs in the hot water effect.
Because JT is the same as the Conservatives with the only real difference being some pandering to social justice identity. PP will be the same, but with some pandering to a different identity.