Economics Newsletter – Week of September 21st

Written by: Amit Shteyer & Hannah Lobbezoo

Canada’s Economy at a Glance

Economics Society News, Events, and Articles 


Rising Tuition: An Economic Crisis for Universities and Students Alike by Amit Shteyer
Could COVID-19 Bring Further Incentives for Automation? By Zuleykha Gasimova


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News and Noteworthy

The Throne Speech must focus on growing the economy:
The Throne speech, opening a new session of parliament, was at the center of Canada’s attention. This editorial outlines what needs to be addressed in terms of the economic recovery from this health pandemic.

Bank of Canada’s Wilkins won’t seek second term as senior deputy
The Bank of Canada’s top deputy Carolyn Wilkins has said she will not be pursuing a second term after 20 years at the Bank. Wilkins was considered one of the top candidates to replace Stephen Poloz when his term ended back in June. However, she was passed over for this role.

David Rosenberg: Trudeau’s big dreams could actually do more to hurt than help our economy: Approximately 30 new initiatives were identified in the Throne Speech this past Wednesday, amounting to over $100-billion annual deficits, and the majority of these measures are not related to COVID-19.

U.S. calls off tariffs on Canadian aluminum — for now
U.S. paused a 10% increase in aluminum tariffs as new Canadian Finance Minister Chrystia Freeland announced “dollar for dollar” retaliatory measures.

Canada to Rapidly Create Affordable Housing and Support the Homeless
The Government of Canada announced a $1 billion Rapid Housing Initiative (RHI) to address the needs of vulnerable Canadians by creating affordable housing. This RHI is expected to create 3,000 new affordable housing units across Canada and help stimulate the economy.

Trudeau announces $221M loan program for Black Entrepreneurs
The loan program includes $93 million committed by the federal government for the Black Entrepreneurship Program and banks are contributing $128 million for loans for Black business owners.

Recommended Read 

Thinking Fast and Slow by Daniel Kahneman

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