Practical Economics to Build a Flourishing World

Nevinomics in Action
Some Fun for the Weekend: United States of Camerica

Some Fun for the Weekend: United States of Camerica

I am associated with the Century Initiative, a Canadian effort that has as one of its main goals getting our population to 100 million by 2100 through increased immigration (http://www.centuryinitiative.ca). By increasing immigration and bringing smart, capable young people to our country from all over the world, we can significantly boost our economic vitality and...
On Our Lack of Economic Understanding

On Our Lack of Economic Understanding

“And the day came when the risk to remain tight in a bud was more painful than the risk it took to blossom.”      – Anais Nin At least the CBC has come clean – we really don’t understand the economy anymore. Since the Great Financial Crisis (GFC) in 2008, developed economies have applied...
Well, There Goes Our Retirement (And a Proposed Solution)

Well, There Goes Our Retirement (And a Proposed Solution)

In a recent statement, our Central Bank head, Stephen Poloz, told Canadians, “I realize this may be cold comfort to those people who have to adjust retirement plans to a lower-for-longer world,” Poloz said. “But the difficult reality is that savers must adjust their plans.” “There are no easy answers, particularly for some who have already...
Are Boys Falling Behind - and not Flourishing?

Are Boys Falling Behind – and not Flourishing?

YUSUF: Brain function in the dream will be about twenty times normal. COBB: And when you go into a dream within that dream the effect is compounded. ARIADNE: How much time? YUSUF: Three dreams… that’s ten hours, times twenty, times twenty, times twenty… EAMES: Math was never my strong suit. COBB: It’s basically a week...
Canada's Index of Wellbeing: A Good Start

Canada’s Index of Wellbeing: A Good Start

… there is no country and no people, I think, who can look forward to the age of leisure and of abundance without a dread. For we have been trained too long to strive and not to enjoy. It is a fearful problem for the ordinary person, with no special talents, to occupy himself, especially...
The Vancouver Tax – A Step in the Right Direction

The Vancouver Tax – A Step in the Right Direction

Bubbles have quite a few things in common, but housing bubbles have a spectacular thing in common, and that is every one of them is considered unique and different.   Jeremy Grantham   I don’t know if the new 15% tax on foreigners buying property in Vancouver will have the desired effect. But Nevinomics is...
Raising the Retirement Age: An Unconscionable Way to Soak the Poor

Raising the Retirement Age: An Unconscionable Way to Soak the Poor

It proposes, by means of old-age pensions, to help those who have reached the age of retirement to give up their jobs and thus give to the younger generation greater opportunities for work and to give to all, old and young alike, a feeling of security as they look toward old age.  – Franklin D....
Continuous Income Smoothing

Continuous Income Smoothing

The world is a complex place today, and more and more we seem to live multiple lives. Few people (and even fewer in the future) tread a linear path of education, career, family, and location. Basically, nobody knows what the future will bring. In this type of uncertain environment, a key advantage for the individual...
The Flourishing Index

The Flourishing Index

What is the economy for? In Nevinomics view, the economy should be constructed to maximize individual Flourishing. Here is one obvious policy suggestion: Canada needs a Flourishing index. If Flourishing is our objective, we are not going to improve it unless we decide how to define it more specifically, and then measure it. At the moment,...
More Infrastructure

More Infrastructure

If you want the economy to work well, a lot of pieces need to come together: high social trust, the rule of law and property rights, and excellent public services among them. Critical to the effective coming together of these components is, of course, an effective infrastructure. (See The Flywheel Effect) One consequence of the...
Optimal RRSP Portfolio

Optimal RRSP Portfolio

Canada has a well-designed retirement policy for individuals: the RRSP (Registered Retirement Savings Plan). Basically, this allows you to save up 18% of your income, deduct it from this year’s taxes, and then have it taxed when withdrawn. There are various guidelines on withdrawals, but compared to other jurisdictions, withdrawal rules are relatively lenient and...
Childhood Obesity

Childhood Obesity

Here is a speech you are unlikely to hear during Canada’s next election campaign: You know, kids are people too… they have rights. If they need a few beers or tequila shots after a tough day at school, who are we to stop them? They deserve it. And ciggies? It’s a free country – sure...
Canada - The Best Nation on the Planet … But We Can Do Better

Canada – The Best Nation on the Planet … But We Can Do Better

While I grew up in Canada in a mid-sized city and raised in modest circumstances, I have had the rare privilege to see much of the world. Apart from spent ten formative work years in Toronto (from age 24-35), since the age of 18, I have had 22 years living in the USA, UK, France,...