This Can't Go On – So It Will Stop

4 Pages Posted: 10 Nov 2016  

Dan Ciuriak

Ciuriak Consulting Inc.; C.D. Howe Institute; Centre for International Governance Innovation (CIGI); BKP Development Research & Consulting GmbH

Date Written: November 7, 2016

Abstract

The current global economic policy regime – the consensus macroeconomic management policy framework, the trade and investment regime, the emerging system of “megaregulation” that seeks to create a seamless framework for the global operations of multinational enterprises, and the international monetary/capital flows regime – has taken us outside the feasible space for social and political stability, not to mention environmental sustainability. To paraphrase Stein’s Law, this can’t go on – so it will stop. This note comments on the features of the economic policy regime that have led to this outcome and suggests how Canada should navigate the potentially turbulent transition to come.

Keywords: anti-globalization, macroeconomic management, monetary policy, innovation policy, trade, investnent, capital flows

JEL Classification: E31, E44, E52, E65, F15, F33, L52, O25, O38, O51

Suggested Citation

Ciuriak, Dan, This Can't Go On – So It Will Stop (November 7, 2016). Available at SSRN: https://ssrn.com/abstract=2866973

Dan Ciuriak (Contact Author)

Ciuriak Consulting Inc. ( email )

83 Stewart St.
Ottawa, Ontario K1N 6H9
Canada

C.D. Howe Institute ( email )

67 Yonge St., Suite 300
Toronto, Ontario M5E 1J8
Canada

Centre for International Governance Innovation (CIGI) ( email )

57 Erb Street West
Waterloo, Ontario N2L 6C2
Canada

BKP Development Research & Consulting GmbH ( email )

Romanstrasse 74
München, 80639
Germany

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