The shambles of the Iowa caucuses reconfirms that electronic voting is still a long way off
The recent Iowa caucuses debacle reminded me of two things. First, my about-face as a member of the New Brunswick Commission on Electoral Reform with respect to electronic voting. Second, further confirmation that the electronic infrastructure continues to be an impediment in advancing digital democracy. The 21st century has empowered humanity with electronic connectivity and…
As the Canadian leaves his post as governor of the Bank of England, his legacy is one of bias and wildly incorrect predictions
Canadian economist Mark Carney is stepping down as the governor of the Bank of England, to be replaced by Andrew Bailey in March. So it’s fitting to look at how his anti-Brexit bias and activism have damaged his legacy. Anybody actively involved in the Brexit debate is certain to hold strong opinions about Carney, as…
If I were king of Alberta, I’d instruct ATB to use its credit reserves to start buying up Alberta debt on the bond markets
“It keeps getting worse, buddy,” proclaimed Chuck from across the garden fence. “Four years of socialist rule and we’re heading for debtor’s prison. Thank God the PCs are back in.” “They’re not Progressive Conservatives anymore,” I retorted, “they’re UCPs – United Conservatives – and exaggerating the debt is what conservative Conservatives do, it’s called austerity…
It is time for conventional banking institutions to enter the 21st century
I once chatted with a group of technology specialists and one of them asked an important question: “I know what intellectual property is, but what’s an intellectual asset?” It seemed to me that this is the most important concept in the modern world of tech, for (presently invisible) assets are the missing link in creating…
The result has significantly dampened the Canadian economy. Banks, not legislated stress tests, know best who can pay for houses
An uproar is brewing over real estate in Canada, fuelled by a misguided attempt to protect willing homebuyers from themselves. Owners see prices declining, while prospective first-time owners find themselves locked out by mandated stress tests. The federal regulator should ease stress-test requirements – if not eliminate them altogether – before they cause further harm…
The key is to find digital mediums of exchange that preserve the distinct attributes of cash
Canada leads the world in the transition to digitized commerce. With more than two credit cards per capita, the cashless economy is approaching swiftly. The move has been largely voluntary, driven by convenience, and half of Canadians favour dispensing with notes and coins altogether. With cash-only businesses declining to near non-existence, what’s the problem? As…
For survival, central banks have little choice but to enter the digital-currency race. But it’s a race they will eventually lose
Central bankers increasingly sense their obsolescence – and rightly so. The more people turn to private currencies and conduct transactions without intermediaries, the less bureaucrats control the economy. In February 2019, a 33-page Bank of Canada discussion paper unwittingly admitted the vulnerability. The authors, James Chapman and Carolyn Wilkins, noted widespread adoption of cryptocurrencies as…
The digital economy is underpinned by a new class of non-physical assets. Why aren’t we investing in them?
Canada is in danger of becoming a tenant nation, according to a recent Public Policy Forum report written by Sean Speer and Robert Asselin. Speer and Asselin describe a post-industrial Canada falling into a modern form of dependency where, although we generate world-class innovation, we lack essential infrastructure and/or skills to commercialize it. We’re simply…
Cryptocurrencies may still be experimental but they’re already driving competitive pressure on established institutions
Your money is worth more to you today than tomorrow. This financial truth – the time value of money – backs the case for real-time pay, a nifty tool for the benefit of workers. Although Canadian unemployment is at a four-decade low, wage growth has stagnated and bankruptcies have spiked. This is where real-time pay delivers,…
Let’s modernize our public accounts, and use our financial strength and institutions to advance the public interest and eliminate the debt
Would a cash-strapped government of Alberta sell its own bank? According to reports, Scotiabank has made an offer to purchase ATB Financial. And, given the perilous fiscal conditions in the province, it's possible the government will sell. That would be huge mistake. By doing so, any government would have to betray rural Alberta and then…
The recent Iowa caucuses debacle reminded me of two things. First, my about-face as a member of the New Brunswick Commission on Electoral Reform with respect to electronic voting. Second, further confirmation that the electronic infrastructure continues to be an impediment in advancing digital democracy. The 21st century has empowered humanity with electronic connectivity and…
