-
Lessons from (Another) Crude Oil Price Collapse
This commentary draws on analysis of oil futures markets contained in the Centre for Future Work’s recent report, Counting the Costs: Impacts of the 2022 Oil Price Shock for Canadian Consumers and Workers, by Jim Stanford and Erin Weir. That report computes the costs of the 2022 oil price spike for Canadians: directly & indirectly it cost the average Canadian household $12,000 over 3 years.
-
Most of our GDP Never Crosses a Border
Most of what our economy produces—close to 80%—never crosses a national border. Rather, it is produced in Canada, by Canadians, for Canadians. In fact, the economy is not as ‘globalized’ as is often assumed. To be sure, Trump’s trade war will cause enormous disruption. But Canadians should feel confident in out country’s ability to survive, and ultimately thrive
-
Three New Videos: Trump’s Trade War; Wages, Profits & Prices; and Defending Living Standards
President Donald Trump’s repeated threats against Canada’s economy have caused great alarm. Meanwhile, home-grown right-wing populist forces have been advancing similar arguments here at home: claiming all of Canada’s problems arise from big government, big unions, or high taxes.
-
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....
-
Who’s Subsidizing Whom?
U.S. President-elect Donald Trump has threatened immediate across-the-board 25% tariffs on imports from Canada, possibly as part of a plan to use “economic force” to annex Canada. Trump claims the Canada-U.S. trade deficit constitutes an “emergency” (thus justifying violation of America’s trade treaties), and amounts to the U.S. “subsidizing” Canada to the tune of $200 billion per year.