Statistics Canada reported today that the economy shrank in February, driven by declines in resource extraction and manufacturing. Oil and gas extraction as well as hard-rock mining decreased due to temporary shutdowns. However, the most dramatic decline was in potash production, down 19% due to mine closures in Saskatchewan. The
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The Progressive Economics Forum: Canadian Deindustrialization
I thought I had been reading Jim’s posts carefully enough, but I was still kind of stunned when I did a quick stat check to respond to a comment on my earlier post on globalization and unions. In 2000, manufacturing output (in constant 2002 dollar terms) amounted to $188.9 Billion.
Continue readingThe Progressive Economics Forum: The Loonie’s Stagnant Purchasing Power
The following note also appears on Business Insider. I owe Paul Tulloch a hat tip for reminding me of these issues in a good comment on my last post. When Ontario’s Premier recently complained that Canada’s petro-dollar undermines manufacturing exports, many economists tripped over each other to counter that a
Continue readingThe Progressive Economics Forum: Santa Claus Delivers a Positive Quarter Despite Corporate Scrooges
The Month: Christmas Gift Canada’s economy was buoyed by Christmas cheer as a December bounce more than offset slight declines in October and November to turn the fourth quarter positive. Unfortunately, one month does not make a trend. The key question is whether December’s strength continued into the New Year
Continue readingCarbon49 - a blog on sustainability for Canadian businesses: Three CEOs in One Room: Walmart, Coca-Cola, Unilever
Some of the biggest CEOs in Canada come together for the Walmart Green Student Challenge. I took this rare opportunity to ask them: Where is sustainability going for Canadian industries? Walmart, Coca-Cola, and Unilever already share best practices for their common goals in sustainability. Now they want to see more
Continue readingThe Progressive Economics Forum: McGuinty’s Business Tax Breaks
An interesting nugget in last week’s Drummond report is Table 11.1, an updated version of Table 2 from “Ontario’s Tax Plan for Jobs and Growth” (2009). It provides a sectoral breakdown of the McGuinty government’s recent business tax breaks: providing HST input tax credits, cutting the corporate income tax, and
Continue readingThe Progressive Economics Forum: Is Labour Doomed?
Last week (Feb. 2nd) I drove up to London, Ontario, to shoot some film footage of the locked-out workers picketing outside the Electro-Motive Diesel plant for a documentary I am working on. The company, the only one to make locomotives in Canada, is owned by Caterpillar Inc., the world’s largest
Continue readingThe Progressive Economics Forum: Keynesian Productivity
Statistics Canada released an interesting study today on the slowdown of productivity growth in Canadian manufacturing. Conservative economists tend to view productivity as a microeconomic issue, reflecting the allocation of scarce resources through the market. The way to maximize productivity is to remove taxes, regulations and other “barriers” to the
Continue readingThe Progressive Economics Forum: Record-Low Manufacturing Employment
Today’s Labour Force Survey indicates that the seemingly robust economic growth reported by Statistics Canada earlier this week is not translating into improved job prospects for Canadian workers. For the second consecutive month, employment is down and unemployment is up. (By contrast, the situation improved south of the border.) Manufacturing:
Continue readingAccidental Deliberations: Wednesday Morning Links
Miscellaneous material for your mid-week reading. – Jim Stanford points out that when it comes to manufacturing, any talk of an “invisible hand” doing much for productivity is based purely on faith rather than evidence: When it comes to Canada’s lousy record in productivity and innovation, the standard prescription of
Continue readingThe Progressive Economics Forum: Neo Liberal Globalization Kills Good Jobs
Well, you’ve heard that kind of line from labour and the left, but now the IMF seems to have been pretty much won over to the argument that global supply chains and technological change are killing more good jobs than they create. In a distinctly gloomy Box starting on p.41 in the latest World Economic […]
Continue readingCarbon49 - a blog on sustainability for Canadian businesses: Coca-Cola: A Case Study In Sustainability
How does Coca-Cola integrate sustainability into their operations? For several years its facility in Brampton, Ontario, one of its largest in North America, has been transforming its manufacturing and distribution to save energy, reduce carbon footprint, water usage, and material usage. In this case study we look at the goals, implementation, and progress of the programs put in place by this $20 billion food and beverage giant.
Continue readingthe reeves report: Ontario and Equalization Payments: ‘have-not’ actually means ‘has-no-oil’
In the two years since Ontario officially joined the ranks of the ‘have-not’ provinces, the volume of equalization payments received has jumped 534%. That’s right – 534%. From the first payment of $347M to this years whopping $2.2B – Ontario is officially suffering through a massive downturn brought on by the loss of almost 300,000 … Continue reading »
The Progressive Economics Forum: Use University Research to Increase Manufacturing Jobs
Manufacturing jobs have been declinining as a percentage of total jobs in most OECD countries for several decades, with Ontario being especially hard-hit as a jurisdiction. At the end of the Second World War, manufacturing jobs accounted for 26% of all Canadian jobs; by 2007, this figure had dropped to just 12%. And as I’ve […]
Continue readingThings Are Good: Going Green to Bring in the Green.
A Cambridge, Ontario metal fabrication company, VeriForm, has become an ecological leader in a field notorious for neglecting the effects of their business and product on the environment. A capital investment of $78000 has allowed VeriForm to implement many small changes (i.e. a centralized programmable thermostat, high-efficiency lighting systems, etc.) which saves the company […]
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