Economics Newsletter – Week of November 2nd 2020

Written By: Amit Shteyer & Hannah Lobbezoo

Canada’s Economy at a Glance

Economics Society News, Events, and Articles


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News and Noteworthy

Can Canada avoid the economic damage that comes with a U.S.-style political split?
The US economy, previously an issue where opposing parties found consensus, has become increasingly political as divide deepens between parties. While the US seems a far bigger mess than Canada, Professor Jeffrey Roy notes that with increased polarization within the media a similar outcome is possible here. Read More.

Canada to increase immigration to support economic recovery
The Canadian Government plans to support economic growth under the new 2021-2023 Immigration Levels Plan which plans to take in 400,000 permanent residents every year. Increasing immigration is integral to getting through the pandemic and supporting long term growth for Canada. Read More

Economic recovery during pandemic slower for Indigenous people: Statistics Canada
Even though both groups were similarly impacted by increased unemployment initially, Indigenous people are having a harder time recovering from their loss of employment than non-indigenous Canadians. Read More

Bank of Canada says economy will likely be scarred by COVID-19
Tiff Macklem, Canada’s chief central banker, says Canada will face a slow and lengthy economic recovery as sequential waves of COVID-19 continue to scar the domestic and global economy. Read more 

Canada’s House Prices Are Soaring Because Reality Doesn’t Matter Anymore To Things Like That
In the midst of the worst economic recession Canada has experienced in decades housing prices have jumped by 17 percent. Among government spending and Bank of Canada printing money – the Canadian housing market has been submerged into something other than reality. Read More

Ontario unveils new tax breaks, subsidized hydro plan to spur economic recovery from COVID-19
The Ontario Government’s plan to assist local businesses in recovering includes new tax breaks and $1.3 billion in subsidies for commercial operations’ electricity bills. This budget is meant to address barriers to long term growth and to build a path to full recovery for Ontario. Read more.

Recommended Read

Capitalism in America: A History
By Alan Greenspan & Adrian Wooldridge 

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