129
Opinion | Bank of Canada’s fight against inflation is a war on workers
(www.thestar.com)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 12 Jul 2023
129 points (93.9% liked)
Canada
7204 readers
278 users here now
What's going on Canada?
Communities
🍁 Meta
🗺️ Provinces / Territories
- Alberta
- British Columbia
- Manitoba
- New Brunswick
- Newfoundland and Labrador
- Northwest Territories
- Nova Scotia
- Nunavut
- Ontario
- Prince Edward Island
- Quebec
- Saskatchewan
- Yukon
🏙️ Cities / Local Communities
- Calgary (AB)
- Edmonton (AB)
- Greater Sudbury (ON)
- Halifax (NS)
- Hamilton (ON)
- Kootenays (BC)
- London (ON)
- Mississauga (ON)
- Montreal (QC)
- Nanaimo (BC)
- Oceanside (BC)
- Ottawa (ON)
- Port Alberni (BC)
- Regina (SK)
- Saskatoon (SK)
- Thunder Bay (ON)
- Toronto (ON)
- Vancouver (BC)
- Vancouver Island (BC)
- Victoria (BC)
- Waterloo (ON)
- Winnipeg (MB)
🏒 Sports
Hockey
- List of All Teams: Post on /c/hockey
- General Community: /c/Hockey
- Calgary Flames
- Edmonton Oilers
- Montréal Canadiens
- Ottawa Senators
- Toronto Maple Leafs
- Vancouver Canucks
- Winnipeg Jets
Football (NFL)
- List of All Teams:
unknown
Football (CFL)
- List of All Teams:
unknown
Baseball
- List of All Teams:
unknown - Toronto Blue Jays
Basketball
- List of All Teams:
unknown - Toronto Raptors
Soccer
- List of All Teams:
unknown - General Community: /c/CanadaSoccer
- Toronto FC
💻 Universities
💵 Finance / Shopping
- Personal Finance Canada
- BAPCSalesCanada
- Canadian Investor
- Buy Canadian
- Quebec Finance
- Churning Canada
🗣️ Politics
- Canada Politics
- General:
- By Province:
🍁 Social and Culture
Rules
Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage:
founded 3 years ago
MODERATORS
Bank of Canada is only following the current leading economic theories such as Countercyclical Monetary Policy . The issue is that economic theories change with technology and advancements. There's an argument to be made that the prevailing theories from the early 2000s no longer apply, but what is the alternative?
The government has other levers on inflation that the BOC does not. If they were using them, there would be less pressure on the BOC to use their one lever. The government has a choice of levers that impact different people differently, and could help spread out the pain, like corporate tax rates, and passing laws that effect property tax calculations for investment properties.
Governments. Both federal and provincial governments can manage corporate tax rates, and both provincial and municipal governments can manage property tax rates.
But each of these governments serve the will of the people, and all three governments ultimately serve the very same people. Good luck convincing the people that they should willing choose to pay higher taxes.
Yes, I should absolutely be more precise. All levels of government have levers they can use here. Though, Municipalities are mostly just trying to keep their heads above water without having tent cities or crumbling roads. They don't have a lot of bandwidth to think about their effect on inflation. Certainly, the provincial governments have plenty of power to do something.