Bold action needed to repair Canada’s economy – by Maddie Di Muccio (Troy Media – May 13, 2020)

https://troymedia.com/

In the post-COVID-19 era, government needs to invest in game-changing projects. Here are some good places to start

The clamour to reopen the economy has reached a crescendo in many parts of North America. But the global economic impact of the COVID-19 pandemic will be far-reaching for years to come.

Canadian historians list 1935 as the year the worst of the Great Depression was over. But the nation really didn’t begin to return to prosperity until the Second World War was over in 1945.

So if history is any guide, we could expect a decade or longer, and significant public expenditure in the interim, before we return to some semblance of economic normalcy.

It shouldn’t take a world war this time to recover economically. But it will take considerable government intervention, in the forms of jobs programs and public investments.

In 1944, Canada had a population under 12 million but more than 750,000 served in the country’s armed forces. In economic terms, this was a massive jobs program. Canada was among the world’s largest military powers in terms of air force and navy. This investment was a significant part of the nation’s gross domestic product (GDP).

For the rest of this column: https://troymedia.com/business/bold-investment-needed-to-repair-canadian-economy/

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