GDP per capita is a very simple way to measure how much economic output a country produces on “average per person” basis. It isn’t perfect as it is an “average.”
What it doesn’t measure is “unpaid” work. Think stay at home Mom’s raising children; volunteer work; what about the “underground economy”; don’t forget about that cash tip you left the waitress last night.
Compensated productivity.
GDP per capita is also the most common way to measure “living standards” …
So. Poor Canada… Let’s start with Trudeau. Prime Minister from 11/2015 to his resignation in early 2025. His policies were socialist. “Depend on government!”
- High levels of immigration helped expand demand for goods and services and outpaced economic growth. Housing, infrastructure and services did not keep pace, contributing to affordability pressures that can weigh on productivity and investment.
- Business investment and growth were stagnant due to government regulations.
- Government fiscal support. Who pays for that?
- Government employment growth outpaced private sector employment growth. This works short term but never in the long run. Remember productivity…
- Energy and climate policies including carbon taxes.
Over regulation and over taxation kills the goose that lays the golden egg.
What else caught my eye?
Spain! Where did that come from? Any guesses on what this might look like in 5 years?
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