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submitted 1 month ago by RandAlThor@lemmy.ca to c/canada@lemmy.ca
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[-] kbal@fedia.io 19 points 1 month ago

There's way more than enough wealth in this country to go around, if it were evenly distributed.

[-] cyberpunk007@lemmy.ca 9 points 1 month ago

Hell it doesn't even need to be evenly. Just better distribution. Right now it's like it's all at the top.

[-] HubertManne@moist.catsweat.com 6 points 1 month ago

Impossible. You have so few natural resouces and have to import everything. You can't think your lives would be as kush as japan or soemthing.

[-] Beaver@lemmy.ca 10 points 1 month ago

Thanks Liberals and Conservatives.

[-] nik282000@lemmy.ca 7 points 1 month ago

AND the corporations that run them!

[-] streetfestival@lemmy.ca 8 points 1 month ago

So long as we only compare ourselves to the US, we look great on many fronts, and that's what most Canadian politicians and mainstream media do - which is absurd and serves an agenda. Compare us to all OECD countries (same as or similar to wealthy peers), and we look middling or abhorrent on many fronts. For example, I know we're almost at the back of the pack of ~40 countries in terms of disability services. I realize the article is probably about economic indicators more so than health and quality of living. My comment is really "who we compare ourselves to matters a lot to the evaluation" and comparisons exclusively to the US are self-serving and of little value

[-] RandAlThor@lemmy.ca 2 points 1 month ago

we’re almost at the back of the pack of ~40 countries in terms of disability services

This is what has fallen behind since Liberals steered towards the center a few decades ago. It's sad really.

[-] RandAlThor@lemmy.ca 5 points 1 month ago* (last edited 1 month ago)

We've needed a better industrial policy/strategy for quite sometime now, way before Trudeau happened. We have been falling behind in productivity, in investment in research and IP, all leading indicators of creation of wealth and prosperity for decades. We just can't rely on oil and natural resource booms to keep us afloat economically. None of the prior administrations have brought that, and Trudeau's hasn't got that vision. Neither does PP quite frankly. He hasn't said jack that talks to how we're going to be more competitive, nor does he have the brains for it.

[-] kbal@fedia.io 3 points 1 month ago

Government isn't about industrial policy any more, the leaders are all too busy with the latest all-purpose political strategy: Flood the zone with useless bullshit, hope something good happens that you can take credit for.

[-] delirious_owl@discuss.online 1 points 1 month ago* (last edited 1 month ago)

This is what happens when you do ethical business in a global, capitalist economy. Its not a bad thing.

[-] tleb@lemmy.ca 7 points 1 month ago

Ethical business? Wat? Our economy is propped up by a housing bubble and resource extraction

[-] delirious_owl@discuss.online 1 points 1 month ago

Compared to your neighbor?

[-] psvrh@lemmy.ca 2 points 1 month ago* (last edited 1 month ago)

Compared to almost anyone.

Canada rolled over and allowed the one sector it had any hope in--resource extraction--to be sold off to foreign investors, first from government control and then from domestic hands. Then it allowed rampant consolidation in the "captive" industries it does have (telecomm, food). Other countries did the same, but Canada rolled over faster and harder than any other western nation.

Now we're at the stage where our primary industry is skimming the cream off of the housing market. After that, what? Strip-mining south Asian immigrants for value? Whoops, we're already doing that, too.

It's a sad tale of governments, Liberal or Conservative, selling everything not nailed down in hopes that the magical market fairy would make it better, and then steadfastly refusing to do anything at all, sacrificing current donors' profits for everyone's future. Everyone saw this as an issue at least as far back as 1995, but no one was willing to admit that the Reagan/Thatcher (and in our case, Mulroney and Chretien) era of neoliberalism would eventually present a bill. So it was more tax cuts, more service cuts, more selling assets, more emphasis on cash hoarding and more disincentives for investing in business.

[-] nik282000@lemmy.ca 3 points 1 month ago

What ethical business? Our biggest companies:

  • Brookfield Corporation (finance: produces nothing, extracts value from others and concentrates it in the rich)

  • Alimentation Couche-Tard (kwikie marts: underpays employees, over charges for products, petroleum energy vendor)

  • Royal Bank of Canada (bank: produces nothing, extracts value through fees and fines)

  • Cenovus Energy (oil and gas: oil and gas)

  • Toronto-Dominion Bank (bank: produces nothing, extracts value through fees and fines)

[-] m0darn@lemmy.ca 1 points 1 month ago

Headline and article mischaracterize the report's findings.

The country added nearly 1.3 million people last year — a 3.2 per cent increase — while the economy grew by just 1.1 per cent in the same time period. That means more people taking slices out of an economic pie that hasn't grown much bigger.

Right, but if we're talking about GDP per capita growth, we should probably subtract retirees from the population number, and not count new residents that don't have the right to work. Also, one year data is probably not very valuable because I think the we're only just now reaching a post-pandemic equilibrium in terms of retirement/ migration flows. Probably a lot better to look at 10 year numbers.

The news isn't all bad. Data shows real weekly earnings — a person's take home pay — has actually increased in Canada, even when accounting for inflation. The household savings rate is also up.

So it's not that we're getting poorer, it's that we're not getting richer as quickly?

This is toxic 'keeping up with the Joneses'.

We should focus on equity and sustainability, not growth for growth's sake.

this post was submitted on 12 Sep 2024
34 points (100.0% liked)

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