If Donald Trump doesn’t carry out his protectionist threats, he risks being a one-term president, writes David Rosenberg. Bank of Canada Governor Stephen Poloz delivered a terrific speech last week that is definitely worth a read, basically about how “creative destruction” is mostly at play behind this ever-declining share of manufacturing employment across the globe, no longer just confined to the developed world, either.
Here are some of the more lucid findings:
“Economists’ understanding of the evolution of economies is based on hundreds of years of history. Advances in technology lead to higher productivity and greater production, which in turn […]