Economics Matters Ep. 19: Fixing Canada’s Problems with Competition with Vass Bednar and Denise Hearn
Some argue that market concentration in their sectors is inevitable. They say Canada’s small population, vast geography, and global competition create natural monopolies—and that protecting their dominance is necessary to build globally competitive companies.But is that true?In this episode, the co-authors of the book The Big Fix: How Companies Capture Markets and Harm Canadians, Denise Hearn and Vass Bednar join me to talk about the realities of competition in Canada and the steps we need to take to inject more competition into the economy. They dug into Canada’s competitive landscape and what they found may surprise you. There are the commonly known challenges: we have three major telecommunications companies, five grocers, a few big banks, two major airlines and a train company. But beyond these common stats, they found a competitive and corporate landscape that is reducing competition well beyond these big sectors. Concentration in half of Canadian Industries has increased by 40 per cent since 1998.In this episode, we learn about how competition has eroded and ways in which we can begin to inject more competition into the Canadian economy.About our guests:Vass BednarVass Bednar is the executive director of McMaster University’s Master of Public Policy program. Her work focuses on the intersections between policy and the innovation ecosystem. She is a senior fellow at the Centre for International Governance Innovation and writes the popular newsletter “regs to riches.” Vass is a contributing columnist at The Globe and Mail and the host of their podcast, Lately. She is the co-author of The Big Fix: How Companies Capture Markets and Harm Canadians with Denise Hearn. Denise HearnDenise Hearn is an author, applied researcher, and advisor who collaborates with governments, financial institutions, companies, and nonprofits on economic and climate policy and organizational strategy. She is currently a Resident Senior Fellow at the Columbia Center on Sustainable Investment, at Columbia University.Denise is co-author of The Big Fix: How Companies Capture Markets and Harm Canadians and The Myth of Capitalism: Monopolies and the Death of Competition (named one of the Financial Times’ Best Books of 2024). Denise’s writing has been translated into 10 languages, and featured in publications such as: The Financial Times, Bloomberg, The Globe and Mail, Stanford Social Innovation Review, and The Washington Post.
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Economics Matters Ep. 18: A Plan for Immigration and Growth with Lisa Lalande and Pedro Antunes
Growth is a central concept in economics. Economies must continue to grow to generate more capital, improve labour productivity and create higher standards of living for populations. But, in 2024, the experiment in growing through a dramatic increase in our immigration levels has called into question whether too much, too fast is actually decreasing our standard of living. At what point does rapid population growth shift from fueling prosperity to eroding the quality of life for those already living here?In this episode, we examine how a lack of planning for growth is holding Canada back. We also hear how neither the post-pandemic experiment in drastically increasing immigration numbers or the more recent equally drastic reductions in immigration will serve our country and its economy. Along the way, we discuss whether Canada can effectively grow to a population of 100 million without sacrificing the life and lifestyles of all Canadians.Our guestsPedro Antunes, Chief Economist from the Conference Board of Canada Lisa Lalande, Chief Executive Officer of the Century Initiative.Pedro Antunes is the Chief Economist and primary spokesperson at The Conference Board of Canada. He provides insights and general direction for the Board’s economic products, including reports and economic indicators that relate to Canada and its regions and sectors. Pedro provides media interviews in English and French as well as expert testimony before parliamentary and senate committees. He is widely sought for speaking engagements and presentations to industry leaders and decision-makers on a broad range of issues and topics that impact Canadians.Lisa Lalande is the CEO of Century Initiative, leading efforts to secure Canada’s long-term prosperity through responsible population growth. She has shaped national conversations on immigration, housing, and childcare, and spearheaded the National Scorecard on Growth and Prosperity. Lisa previously led transformative projects at the Munk School’s Mowat Centre’s Not-for-Profit Research Hub and held leadership roles at Habitat for Humanity Canada, advancing affordable housing across the country and around the world. Her work has driven policy change, empowered decision-makers, and earned numerous accolades, including the King’s Coronation Medal for her contributions to community service and social impact. Additional links:The Century Initiative: [https://www.centuryinitiative.ca/scorecard/home]; The Century Initiative: Growing Smarter—The case for a national smart growth strategyThe Conference Board of Canada: Shift in Immigration Policy Goes Too Far
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Economics Matters Ep. 17: The Economics of Net Zero with Tony Bonen and John McNally
As we experience the hottest summer on record, reaching our Net Zero goals has become one of the most urgent challenges of our time. Canada's target is to achieve a net-zero economy—either emitting no greenhouse gases or offsetting any emissions—by 2050, with critical milestones set for 2030.In this episode, we examine Canada’s progress toward these goals and explore how the economics of this transition will impact Canadians in various ways.Our guests:Tony Bonen, Executive Director, Economic Research, The Conference Board of CanadaJohn McNally, Senior Advisor, Climate and Socio-Economic Policy Research, Scotiabank Economics Additional links:Economic Impacts From Cap and Trade on Oil and Gas (CBoC)Economics: In-depth commentary and analysis (Scotiabank Canada)
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Economics Matters Ep. 16: Reinventing Cities with Mary Rowe and Pedro Antunes
The last four years have brought many changes to the ways in which we live, work and shop. These new habits are reshaping cities and the road to the new normal is proving very bumpy for cities across the country. In this episode, our guests explore how cities are reinventing themselves and talk about the critical role cities and the people and businesses that comprise them form the backbone of our economy.About our guests:Mary W. Rowe, President and CEO, Canadian Urban InstituteMary W. Rowe is one of Canada's leading advocates for place-based policy leadership, with a particular interest in how cities and communities across Canada and the United States foster their own economic, social, and environmental resilience. During her leadership at the Canadian Urban Institute, she has built new partnerships and platforms for city builders from the public, private and community sectors to learn and adapt to challenges in collaborative ways that catalyze sustainable, creative change. Pedro Antunes, Chief Economist, The Conference Board of CanadaPedro Antunes is the Chief Economist and primary spokesperson at The Conference Board of Canada. He provides insights and general direction for the Board’s economic products, including reports and economic indicators that relate to Canada and its regions and sectors. Pedro provides media interviews in English and French as well as expert testimony before parliamentary and senate committees. He is widely sought for speaking engagements and presentations to industry leaders and decision-makers on a broad range of issues and topics that impact Canadians.Other links:Conference Board of Canada: Cracking the Productivity Code: Charting a New Path to ProsperityThe Canadian Urban Institute is a leading organization dedicated to advancing urban solutions. CUI collaborates with city builders, researchers, and community leaders to create thriving, equitable, and sustainable urban spaces across Canada. Learn more at canurb.org today.Looking for more like this? Check out CityTalk Live, Canada’s premier live webinar exploring what’s working, what’s not and what’s next for our cities. Produced by the Canadian Urban Institute. [citytalkcanada.ca]
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Economics Matters Ep. 15: Reacting to the 2024 Federal Budget
The April 2024 federal budget is like game seven of a Stanley Cup playoff run for economists. It’s a critical time when decisions on spending and taxation are made that can help or hinder our economic direction. In this special episode we call on various members of The Conference Board of Canada’s economic forecasting unit to help make sense of the key announcements in the budget. Join us to hear their take on the impacts of federal budget 2024.
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