Economic Policy Needs a Broader Conversation

This op ed was published in the Business Commentary Page of the Globe and Mail on August 26, 2015.

The first English televised leaders’ debate in the federal election was split into four segments, each of which considered an important policy topic. Economic policy made the list of worthy subjects. Social policy did not.

The irony is that good social policy is good economic policy. Market economies go through cycles with periods of stability followed by periods of slump and uncertainty. Canada has weathered these economic cycles, and even major recessions, largely because of our social policy initiatives.

Income security programs, in particular, act as shock absorber, fiscal stimulus and economic stabilizer. They blow wind into the sails of the economy and help ensure a smooth economic ride – or at least a smoother one than in their absence.

While income security programs are vital to the economic health of the country, they are always relegated to the sidelines in most discussions and debates. Social policy and income security programs, more specifically, should be an integral part of any economic policy conversation.

ISBN – 1-55382-651-5