The new attempt at a non-GDP index rests on at least one elementary economic fallacy: It contends that undesirable events like natural disasters, smoking, car crashes, and pollution inflate GDP. They do not. While flood clean-ups, heart by-passes, and towing cars from ditches might be activities whose value is counted as GDP, none of these inflate it. Any resources used for such remedial activities must be diverted from some other use that could otherwise have generated additional wealth.The index appears to be on more stable ground where it is possible to increase GDP while degrading the environment, but GDP does have a way of capturing environmental degradation too. It may be possible to profit while polluting, but to the extent that pollution is bad, it reduces the prices people will...
The Better Life Initiative survey marked a major attempt by the Paris-based OECD, an economic and social policy think-tank funded by its members, to provide a broader measure of a country's success than gross domestic product figures.
What's worse is that even though by law Quebec governments must produce a balanced budget, the province's debt load remains staggering. At this moment Quebec taxpayers owe, thanks to several carefree decades of government spending, $118 billion, or for the dismal scientists out there, 44 percent of Gross Domestic Product, by far the worst of all 10 provinces. The fiscal tax gap -- how Quebec income tax compares to the Canadian average -- has come down somewhat under [Jean Charest]'s administration, but still remains wide. For example, if Quebec rates were applied to Ontario, taxpayers would be shelling out $3.4 billion more, $3.8 billion in Alberta and $3.1 billion in British Columbia, according to an RBC analysis. Most comparisons of tax rates, both corporate and personal, put Quebec a...
The Potential Contribution of Aboriginal Canadians to Labour Force, Employment, Productivity and Output Growth in Canada, 2001-2007, released by the centre on Nov. 26, states that if the high school graduation rate of Aboriginal people caught up with that of the non-Aboriginal people by the year 2017, it could mean an increase in the country's gross domestic product (GDP) of as much as $62 billion. There needs to be more data at the school level on how Aboriginal and non-Aboriginal students are doing. In order to solve a problem, you need to know where the problem lies, exactly. That's the first step, and that needs the co-operation of Aboriginal leaders, the federal government, and provincial governments, because three-quarters of Aboriginal Canadians are in provincial schools. That's...
Underlying the strategic competition is China's economic rise. Its companies are "colonizing" swaths of Africa and Latin America, cozying up to regimes Westerners shun. Its huge foreign-exchange holdings and its sniffing of bargains mean Chinese investment in the West will grow rapidly in the coming years. And to cap it all, China owns $800 billion of U.S. government debt -- enough to give it power of life and death over the U.S. economy. China's economy is still less than a third the size of the U.S.' at market exchange rates. Its gross domestic product per head is one-fourteenth that of the U.S. The innovation gap between the two countries remains huge. The U.S.' defence budget is still six times China's. As for the Treasury bills, dumping them is not an option for China: A tumbling d...
NO one knows if there will be a human pandemic arising from H5N1, avian flu. Indeed, there are indications the spread of the disease in birds and people has abated in some countries. Nevertheless, we do know it is only a matter of time before an influenza pandemic hits us. The last one was in 1968, and history tells us that they usually occur roughly three times a century. The economic effects of pandemic today might be more dramatic, particularly if the pandemic is severe, similar to the one in 1918. Winnipeg also has a bustling financial services sector, led by Great-West Lifeco, Canada's largest insurer with about 2,000 employees in the city. IGM Financial, one of Canada's premier personal financial services companies, is also based in Winnipeg. Insurance companies can expect a sharp...
... reduced cost structures and improved productivity by minimizing inventories, operating on a just-in-... Canada's estimate for Winnipeg's gross domestic product, the city will grow by just 0.3 per cent. ...
With the world facing, according to the United Nations Intergovernmental Panel on Climate Change, "abrupt and irreversible" damage unless emissions are curbed immediately, the Commonwealth initiative should have had at least the support of the developed countries among its members. Environmental damage costs the Chinese economy 10 per cent of the country's gross domestic product; China, thanks to carbon-emissions trading, is receiving billions of dollars to adopt clean development mechanisms; the Chinese people want an end to having to breathe in air that in Beijing is said to be the equivalent to smoking 40 cigarettes a day.
At the beginning of 2003, one euro bought one U.S. dollar. Eighteen months ago, it bought $1.20. Now it is pushing $1.50, and there is no reason to think that it will stop there. Three of the world's biggest oil exporters, Iran, Venezuela and Russia, are demanding payment in euros rather than U.S. dollars. Last week a Chinese central bank vice-director, Xu Jian, gave voice to the suspicion of many others, saying the U.S. dollar was "losing its status as the world currency. They do matter to foreigners. As the U.S. dollar fell in value, the price of oil (which is usually calculated in dollars) rose to compensate for it, but there was no comparable adjustment for foreign central banks that had huge amounts of U.S. dollars in their reserves. China, which was sitting on about a trillion U....
... borrowing six per cent of its gross domestic product from foreigners each year to cover its tra...
With Statistics Canada sharply revising downward it's first-quarter tally on gross domestic product to -0.8 per cent, the modest 0.3 per cent gain in the March-June period meant that the economy actually contracted during the first six months of 2008. Canada is better positioned than most to weather this period of global economic uncertainty," [Jim Flaherty] told reporters. "For 2008 as a whole, I expect real gross domestic product to increase by about one per cent.
So, I invite you to help recognize and celebrate the 100th anniversary of the Manitoba Building and Construction Trades Council. This organization was established in 1909 and is an umbrella organization that represents 14 building trades unions and approximately 10,000 building trades' professionals. These professionals include bricklayers, carpenters, electricians, painters, drywallers and plasterers, plumbers, roofers and sheet-metal workers, ironworkers, equipment operators and truck drivers. While it is always nice to simply celebrate a birthday, I was frankly surprised to learn about the significant level of economic contribution the construction sector provides. According to Dave Martin, executive director of the Building and Construction Trades Council, construction is the larges...
... for 15 per cent of Canada's gross domestic product and creating approximately 1.2 million job...
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