Canada has declined to economic mediocrity under Trudeau's welfare state ideology

[blackbird]

"The problems have been recognized for some time — a declining standard of living, terrible productivity, low levels of innovation, our near invisibility in global technology markets, too much government, a bloated public sector, an overly complex tax system, along with enormous budget deficits and accumulated debt. It’s a depressingly long list.

Unfortunately, there are no simple solutions. Many of these problems have become structural, and have been worsening for years (but each either originated with, or has grown much worse under, the Trudeau government). It is not something a new Conservative government will be able to quickly fix, although better economic policies will undoubtedly help."

"All that said, there are measures that a new government (or the existing one, although I would not hold my breath) could take that would undoubtedly help: tax reform; a renewed attempt to eliminate provincial trade barriers; a return to more traditional levels of immigration (along with the skills-based criteria that we used to emphasize); smaller, less intrusive government and a more favourable attitude toward business and foreign investment.

If no action is taken and the status quo reigns, Canadians can expect their living standards to continue to fall, and we will increasingly become known as a country that was once one of the wealthiest in the world, but squandered that potential on its path to economic mediocrity."

Andrew Richter: The Liberal path to economic mediocrity (msn.com)

Because of the fact there are no simple solutions and the fact the mediocrity has changed every bit of society for the worse, Conservatives will not be able to make a major improvement in a four year mandate.  I think it would take a major shift in the will of Canadians over a long period of time.  However, since millions of Canadians have been made poorer, it is not likely they are going to be willing to abandon a lot of social programs.  This is the poison that a welfare state with all the social benefits created.  I don't know if Canada will ever get back to the prosperity it once had.  People are brainwashed to vote for who they think promises them the most social benefits.  Few want to make sacrifices to built a stronger economy.  It would take a lot of sacrifices.  I don't think Canadians are willing.   I am not sure Conservatives can do it.  Canada has dug itself into this mess by voting for Liberals under Trudeau and NDP.  There is no free lunch.  Somebody has to pay for every social program.  The more money that is taken from the people to pay for various programs, the less investors want to invest in Canada and they take their money elsewhere.  The incentive or motivation for hard work and investing in Canada is weakening.  Government has been committing billions of dollars to large corporations like EV battery plants, etc. to try to build industry.  But this is on the backs of tax payers which just pushes Canada further into debt.  Nobody really knows if the EV industry is really going to be a success.  Putting billions of dollars of taxpayer money into something that risky is gambling with the people's money.  Private industry knows best how to invest money and build industry, not government.  Government intervention in the economy in this way with taxpayer money is not the solution.

Edited August 14, 2024 by blackbird