Friday, January 30, 2009
Governments the world over seem to buy into the economic theory that they can spend their ways out of a recession. Having been chastised by my first-year economics professor for talking in class, I know that I don't have a degree in economics (I should note, that I was explaining a concept to a friend that he had made a particular mess of). In any case, I'm not going to say I know better than the teams of economists that our government, and many others employ. I am though, concerned of with the short-comings in Canada's most recent budget. Sure, there's infrastructure funding, money for social housing, support for First Nations and more. All good things. But where's the forward-looking money? As Obama trumpets the opportunities of a "green" economy Canada cuts funding to scientific research and doesn't look to updating things like our utility distribution networks to better support new approaches to technology like networks to support plug-in hybrid cars. We may/will still come out of the recession, but I think it will leave us structurally behind other countries. Why be short-sighted? If you can immediately influence the economy while seeing long-term benefits, why not do it?