Thank capitalism for your basic supplies in time of crisis

COVID-19 has meant some shortages at grocery stores. But overall, the supply chains developed over decades fill our needs

Thank capitalism for your basic supplies in time of crisisEven as COVID-19 has put much of the economy into shutdown and caused a run at grocery stores on some staples, most of us remain generally well-supplied with food. That’s something to be thankful for. It’s one of the significant wonders of the modern economic system that most people, very few of whom are directly…

Billionaires, Beethoven and the Beatles enrich us all

The best way to enrich society is to encourage billionaires to produce even more. We should never tax creativity of any kind out of existence

Billionaires, Beethoven and the Beatles enrich us allAccording to many, confiscatory taxes should be levied against the wealthiest members of society until billionaires are taxed out of existence. Just ask devotees of U.S. Democratic Party luminaries Bernie Sanders and Elizabeth Warren, their ideological counterparts in left-wing circles in Canada, and even 62 per cent of the audience at a recent TVO debate…

Increasing immigration increases prosperity

A more open immigration policy is one of the easiest ways a government can increase economic freedom, improve growth and cut poverty

Increasing immigration increases prosperityOne of the big policy issues for the federal government this year, as well as in the Conservative leadership race, is immigration. It’s an area worthy of attention. By a margin of 63 to seven per cent, according to a recent Leger poll, Conservative voters want their new leader to decrease rather than increase immigration…

CPP doesn’t need to be overhauled, it needs to be killed

When it comes to how and how much workers should save for retirement, the federal government doesn’t know better than Canadians themselves

CPP doesn’t need to be overhauled, it needs to be killedAs the calendar flipped to 2020, the federal government again made the Canada Pension Plan (CPP) tax more expensive, even though CPP doesn’t help the economy or workers. The combined employee and employer contribution rate has risen from 10.2 per cent in 2019 to 10.5 per cent this year, while the maximum taxable amount (but…

Alberta has much to teach Ontario on budgeting

The Alberta government has not only set out a better direction on program spending, it also has a better plan on taxes

Alberta has much to teach Ontario on budgetingAlberta Premier Jason Kenney’s government delivered its first budget in October following the United Conservative Party’s victory over the NDP earlier this year. That budget sets a course Ontario should follow. Kenny’s mandate from voters was similar to that of Ontario Premier Doug Ford: to reverse course on the previous administration’s overspending, deficits and tax…

Throwing government money at all the wrong things

The Ontario government continually makes corporate welfare payments that fly in the face of social policy

Throwing government money at all the wrong thingsThe Ontario government’s public accounts should be a source of despair to any taxpayer. They provide the latest reminder that politicians are addicted to spending other people’s money and will spend it on just about anything. That a government program is without public demand or is unsupported by sound economic reasoning doesn’t deter governments from…

Corporate welfare doesn’t create jobs

Corporate welfare causes an economic loss, exacerbated by the fact that it encourages businesses to devote resources seeking government funds

Corporate welfare doesn’t create jobsCorporate welfare handouts are a policy staple of politicians of all stripes – and they’re all wasting public money. Liberals who mistakenly think government spending is the driver of economic growth love handing out free cash to claim they’re “creating jobs.” Conservatives say they’re against corporate welfare – but only sometimes, and only if it’s…

Unionizing the gig economy would be a disaster for workers

Unionization would mean fewer jobs and fewer hours of work. The workers might be unsatisfied with their current position, but it’s certainly better than unemployment

Unionizing the gig economy would be a disaster for workersThe push for unionization among some food couriers at Foodora Canada and among hundreds of Uber drivers in Canada will ultimately do more harm than good for workers in the gig economy. The drive for unionization will actually result in increased unemployment and underemployment. Unionization defies the law of demand, a central economic concept. Unionizing…

On Labour Day, celebrate labour, not unions

Unions harm workers more than they help. And they seek a bigger slice of the economic pie, even while shrinking the pie through productivity loss

On Labour Day, celebrate labour, not unionsLabour Day is a day, as its name suggests, to celebrate labour. This is entirely appropriate – labour is a necessary input for the production of goods and services on which our standards of living rely. We make a mistake, however, when the celebration is of labour unions instead of the workers who supply the…

Why Milton Friedman’s ideas still resonate

Why Milton Friedman’s ideas still resonateWere he still alive, Milton Friedman would have celebrated his 107th birthday on July 31. An intellectual giant, his ideas played a significant role in making the world a freer and more prosperous place. Those ideas remain vital. From driving the elimination of military conscription in the United States to influencing the economic transformations that…