This Can't Go On – So It Will Stop
4 Pages Posted: 10 Nov 2016
Date Written: November 7, 2016
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: Suggested Citation