In the past year, Canada’s immigration rate has experienced a dramatic reversal. We explain how it happened.
Also on Nebula: https://nebula.tv/videos/tldrnewsglobal-canadas-insane-immigration-uturn-explained
In the past year, Canada’s immigration rate has experienced a dramatic reversal. We explain how it happened.
Also on Nebula: https://nebula.tv/videos/tldrnewsglobal-canadas-insane-immigration-uturn-explained
The problem is the people leaving are the highly talented and valuable people economically speaking. The people that are staying are the low income low skill people who do not substantially increase our GDP per capita and in fact lower it
This is going to be more and more of a problem.
Low income low skill people are still a net gain to society because they provide the secret ingredient that makes our economy function and grow: Demand. If their income is not enough to stimulate demand, that is because the minimum wage is too low.
Market economies are not built on demand. If all you have is demand then you have a failed economy because you will have runaway inflation the vast majority won’t be able to afford the things they need
Which is precisely what’s happening in Canada. The housing market has exploded because there’s demand but not a sufficient supply. The strain on the medical systems is similar, demand increase faster than supply
Essentially you got it backwards. The magic in a market economy is the supply, and it is the nature of section economy that supply will appear to try and fill in demand. Loweskilled glow paid workers artificially ruin that dynamic and demand winds up outpacing supply with disastrous results
And their wages are too low because they’re not worth anything. The system operates on the concept of being paid a dollar for the creation of a dollar’s worth of value. To create higher value you need to have skills and abilities or assets which allow for that and that is exactly what is leaving Canada
Yes, market economies are built on demand. Neoclassical, supply side economics is a joke that centralizes wealth and destabilizes societies. It’s a failure.
No they are not. And as the reality of the situation proves that I’m right and you are wrong. So there you go
Yes they are, and the last 40 years of ever increasing wealth inequality totally discredits your economic philosophy. So there you go. Milton Friedman was a dumbass, make your peace with that fact.
The last 40 years proves I’m right even more 😆😆😆
Sorry kid. Try reading a book instead of getting her education from Facebook. Demand exist in every economic model, capitalism addresses the supply sideit is that effort that makes things work. The ability to create products and services including ones that didn’t even exist before which creates new demand is what drives us. Demand is not what drives us immigrants don’t produce the supply necessary to meet the demand and that creates inflation and weakens the economy
If you think extreme wealth inequality, stagnating wages, decreasing purchasing power for the average person, and the rise of reactionary politics is success. If, on the other hand, you are a reasonable person, you would think that’s a really pathetic failure. Kid.
I didn’t say whether or not it was a success I said it proved me right. Wealth inequality is something that people that don’t understand how money works talk about. Whether or not someone else is richer than you has nothing to do with how rich you are. It’s not a measure that has any particular value. Reactionary politics has nothing to do with our financial system that’s something else.
And most of that is a product of the last 12 years or so. And much of that problem was created by an imbalance between the growth of our population and our lack of ability to supply the needs of that population. As I have already pointed out with regards to housing, medicine, education, etc.
And that becomes a cycle or death spiral where are inability to supply leads to inflationary pressure and low wages which leads to our inability to supply etc
So bringing in low-wage people in any way shape or form make the economy stronger. At best it can mask weaknesses and cover them up for a short time until they kind of blow up in your face.
You could argue the brain drain has been going on since the late 50s
You could but not successfully 😁 Joking aside though there have been other instances of brain drains taking place in the past. I think to suggest that there’s been a consistent brain drain for that. Of time would be severely erroneous and there are definitely been times when we attracted people to Canada. But this is definitely one of the worst and we are seeing people leave for the record percent of them being exactly the kind of people we want to stay
And it shows up in a lot of stats. Our GDP per capita is horrible and that’s one of the reasons, our investments climate is cored, etc etc. We have to find a way to reverse that and quickly