-
Canada needs a new National Policy
U.S. President Trump’s imposition of 25% tariffs on most imports from Canada will cause severe economic dislocation across Canada. Hopefully, a combination of negotiations backed by counter-measures announced by Canada will succeed in removing the tariffs in coming months. However, Trump’s actions have permanently damaged the credibility of any Canadian economic strategy based on continental free trade. In this commentary, originally published in the Toronto Star, Centre for Future Work Director Jim Stanford argues Canada needs to develop a new ‘National Policy’: one focused first and foremost on developing Canadian industries and capacities....
-
Amazon’s Union-Busting in Quebec Can Be Overcome
Amazon, the fourth-richest corporation in the world, recently announced the closure of 7 of its warehouses in Quebec because one of them (in Laval) had voted to unionize, and was about to attain a collective agreement (thanks to Quebec’s first-contract arbitration system). This decision will throw 1700 workers out of their jobs. In this commentary, originally published in Canadian Dimension magazine, Centre for Future Work Director Jim Stanford considers options for overcoming Amazon’s union-busting strategy.
-
Strikes Have Economics Benefits, Not Just Costs
In the tumultuous years since the COVID pandemic and the subsequent outbreak of inflation, Canada has experienced a large number of work stoppages. Canada experienced over 800 strikes and lockouts in 2023, resulting in 6.6 million days of work time lost. That’s much higher than in most recent years, but still lower than peak levels of industrial disputes experienced in the 1970s and 1980s.
-
‘Vibecession’: Reconciling Positive Statistics with Negative Sentiment
Newly released data for the third quarter of 2024 (July-September) shows the economy has continued to grow, albeit slowly. Consumer spending was the brightest light in the third quarter data: growing at an annualized rate of 3.5% (in real, inflation-adjusted terms), and constituting the largest single source of new demand.
-
High-Tech Price-Fixing
One worrisome feature of recent bursts of inflation has been the role of automated price-fixing technologies in pushing up prices across entire industries. Companies use special programs to search out the prices being charged by competitors, and detect changes in demand. These algorithms can then adjust prices quickly, at the level judged to be the highest the market will bear.
-
Yes, Public Sector Jobs Count, Too
B.C.’s unemployment has been among the lowest in Canada for several years, economic growth and business investment have been among the strongest, and the province now has the highest hourly wages for employees of any province. Yet some business commentators try to debunk that record, claiming it’s all due to public sector spending and hiring.
-
Explainer Video on Corporate Power and Profit-Led Inflation
Centre for Future Work Director Jim Stanford is featured in a new 6-minute video, produced by the Broadbent Institute, discussing the role of corporate price hikes in post-pandemic inflation.
-
Regulating Prices Not Such a Crazy Idea
Kamala Harris’s entry into the U.S. presidential campaign has had a dramatic impact on political discourse there – not just in the opinion polls, but in policy thinking, as well. For example, in her recently-unveiled economic platform she advocates new federal laws against price-gouging, to limit the power of private businesses to unreasonably jack up prices for groceries and other essentials...
-
Unions and Racialized Workers: Media Coverage and Webinar
The Centre for Future Work recently released new research on the extent of wage inequality across racialized categories of workers in Canada, and the importance of union representation in supporting racialized workers to win better jobs and better pay. Please see the full 85-page report, The Importance of Unions in Reducing Racial Inequality: New Data and Best Practices, by Winnie Ng, Salmaan Khan, and Jim Stanford.
-
Self-Interest of Wealthy Investors Explains Over-the-Top Reaction to Capital Gains Reform
The federal government’s 2024-25 budget included an important reform to the taxation of capital gains. Capital gains occur when an asset is sold for more than it cost to acquire. Capital gains are heavily concentrated among high-income Canadians – more so than any other form of income. And making matters worse, they receive lucrative tax preferences: until this year, recipients only had to declare half their gains on their income tax (for a so-called ‘inclusion rate’ of 50%). The other half was entirely tax-free. In contrast, other forms of income (like wages and salaries) must all be reported on a tax return: that is, their ‘inclusion rate’ is 100%!