Comments by "firstandforemost87" (@firstandforemost87) on "“We need to stick together”: Concern in Ontario’s steel industry over possible tariffs" video.

@PurgatoryVLM No. It thrives on innovation and competition. As the OP just outlined, we have been struggling due to its focus on demand side ‘growth’ (and just growth in general), which has been achieved largely by importing anything with a pulse into regional labour markets whilst letting the taxpayer subsidize the associated negative externalities. Look into free market theory. Cost internalization is a key assumption. This isn’t a failure of capitalism. It is a failure of the ppl within it. There is good reason ppl say Canada isn’t a serious country. As a ppl, we had to be seriously asleep at the wheel to let things get this bad. A nation stupid enough to buy the ‘unchecked immigration will save your future’ line is a nation that couldn’t be bothered to take a step back and think about what was being proposed, and it really only takes the simple high school supply and demand model to show it. But what can one expect from a ‘nation’ that hardly blinks when its own PM calls it a post-national entity?
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@ A lot in economics is simple. The simplest lessons are the most powerful. Cram demand into an area/market with inelastic supply (housing)? You can expect the price to climb and remain high. All you need to do is draw a pretty picture and move some curves around and this was all easily predictable. I know because I did it while I was studying economics formally. Nowhere were we ever told that it is advisable to drive long term growth via labour. In fact, the Cobb Douglas Production Function provides a very simple explanation as to why what we did was ridiculous. Where do you think we were always going to end up with diminishing marginal returns on labour alongside linear coats? Not my fault you don’t understand the basics.
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