Today’s federal fiscal update—that '70s show

Patterns recur in the course of human events. In the case of federal government finances, with today’s federal fiscal update we are about to embark on a path with parallels to the 1970s.The ’70s represent a structural break in Canadian and global economic performance that saw the end of the post-war economic boom. There was a period of slower economic growth inaugurated by the first OPEC oil price shock of 1973, accompanied by rising unemployment and inflation.The policy response to these economic challenges was originally framed in a Keynesian economic management framework based on the view that interventionist government could

Read More - The Fraser Institute