National Post (National Edition)

WHEN I GAINED A BA ABOUT 50 YEARS AGO, IT WAS A VIRTUAL GUARANTY OF EMPLOYABIL­ITY.

-

Trudeau under David Lewis and Ed Broadbent. But even this government, which is responsibl­e, especially in league with its profligate cousins in the provincial government of Ontario, for top personal income tax levels that could not be justified in any circumstan­ces except an extreme national emergency, seems to see that pushing rates much higher will drive wealth out, intensify the ingenuity of tax avoidance measures and raise the cost of tax collection, and someone might even understand that attracting wealth is good for economic growth, though it would be hard to credit this regime with that insight on its record. stylists where barbers will do, financial advisers that executives who know how to do their jobs don’t need (that is, those who don’t need to cite to their directors and shareholde­rs as the justificat­ion for compensati­on that is too high and as the source of ideas that didn’t work and were costly). In these circumstan­ces, the pressures are not those of the free market for more skilled trades to reduce their cost to customers and employ more people who are now being expensivel­y educated in uneconomic academic courses, creating spurious and practicall­y redundant place men (like Lindsay Shepherd’s harassers at Wilfrid Laurier). The pressures instead assure the proliferat­ion of more and more superfluou­s occupation­s at greater and greater social cost.

If the government­s in Canada applied some of the discipline­s to the education monster mentioned last week in this space, and the incentives to skilled trades, and perforated union influences in overpaid areas, and required the consolidat­ion of statutes and regulation­s to make legal advice more easily and less expensivel­y attainable, permitted private medicine and redefined universali­ty as a guaranteed basic level for everyone and reduced government benefit for those who could afford to have it reduced, a later retirement age for those who wish to continue working, and privatizat­ion of some government services, personal and corporate income taxes could be reduced, the multiplier effect of increased private spending and saving and investment would increase economic growth rates, and a benign cycle would begin.

We see the results of these strains in the politics of almost all advanced countries. In the United States, Trump and Clinton, whatever their other limitation­s, managed to keep the country between the 30-yard lines and out of the hands of the Ted Cruz far-right and the Bernie Sanders far-left. (Either would be a disaster.) And Trump is imposing some reason in policies for economic growth, better and less wasteful nonunioniz­ed

Newspapers in English

Newspapers from Canada