Quote:
Originally Posted by Rutuu
I always love your stuff Cowboy89.
I've heard this exact argument posed for other resource based nations. It always makes me think about economies like New Zealand, Singapore and Israel. They do quite well without natural resources. Canada has a lot of advantages. I don't see people rolling over if we didn't export resources anymore (in an extreme scenario), the brightest minds in the country would just develop other industries, like those smaller economies I mentioned.
Canadians are tougher and more respected than people that live in Canada give them credit for.
|
Canada's GDP per capita is 15-20% higher than Israel and New Zealand. Singapore is a city state and global financial center, so I don't think its directly comparable.
I agree that after a period of adjustment we could stabilize our standard of living at 15-20% less than it is currently. I'm not sure how enthusiastic you'd find people to be about a 15-20% pay cut, but my guess is not very.