Canada: Digging Deep Into The Canadian Economy #canada

Canada, a commonwealth country, has a service based economy, based on the principle of “Peace, Order, and Good Government. Canada is not a socialist country. It is a capitalistic economy. A mixture of capitalism and minimum state regulation, instead of a mixture of capitalism and socialism. 

You can also watch videos on economy of other countries:

Canada, just like many developed nations, followed a sequence of transitioning from a raw-material-based economy to a manufacturing-based economy, and finally transitioning again to a service-based economy.

Ranked among the top ten countries on Economic Freedom Index, the Canadian economy has some resemblance with the Australian economy.

The video also discusses Canadian immigration and its role on the country's economy. The population factor is also mentioned and how the aging population, low fertility rate and lower working age population has been impacting the economy. It also mentions the types of immigrants including the students, skilled workers and rich investors.

The video also discusses Canada's willingness to push away from it's oil dependence and how it impacts the economy. It mentions the Staples Thesis as well how much diversified the economy is.

The video went on to discuss maple syrup, Canada and United States trade, minimum wage, household debt, disposable household income & discretionary income, household debt, manufacturing sector, healthcare system etc. among the other topics.

#canada #canadian #economy #JordanPeterson

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[dadgarage]

In Canada, it's called a microwave oven. In Australia, it's called a zapperwhacker.

[brianoconner]

Coming from a developing country myself and migrating to Canada, I could see the big difference a developed country like Canada runs its system more efficiently. Yeah taxes are high here but you could clearly see the difference in terms of how the government serves its people through social services and infrastructure.

[davelee]

I am a Chinese international student, i have been studying in Canada for 7 years.

Compared with the United States, Canadian society is more tolerant of immigrants, there is less racial discrimination, and people are very friendly and kind.

Love Canada from China, I really miss the time when I lived in Canada.

[pianoforest]

Thank you Canada for being so welcoming to immigrants. Its my 6th year now and I came here as a student when I was 18. I have lived in all three major cities in Canada, I started in Toronto and spent 4 years in Montreal studying French, 6 months in PEI and ended up living in Vancouver). I'm a motocycle enthusiast and I visited so many incredible places like from west Windsor/Detroit US border to the east where you can see the most spectacular water dam in Quebec Canada. I drove my car across Canada this summer. (Quebec Ontario Manitoba Saskatchewan Alberta and finally the beautiful British Columbia) Thank you again for such an amazing life experience. It's been a great honor.❤

[egreeno]

As an American living in Canada (Québec), je suis heureux d'être ici (I'm happy to be here). 🇨🇦🇺🇸

[zeeshan]

"Bringing more immigrants is more of an economic decision than a moral one. " - Agree

[piobmhor]

Slight correction from a Canadian, at 8:30 you said “when the American economy catches a cold, Canada sneezes”, the saying is actually the other way around. We say “when America sneezes, Canada catches a cold”. Oh, and sorry for bringing it up eh.

[carlosagonzalezquiroz.]

As an international student in Canada, I agree. Studying here in Canada is not cheap, and it comes with lots of restrictions and penalties, but unlike the USA, there's a pathway towards residency after graduation which makes all the investment and hassle of studying abroad worth it.

[frostynorth]

This is the first time outside of Canadian political economy books that I've seen someone mention the staples thesis and its impact on Canada's economy, politics, and civil society. I don't think most Canadians have ever even heard of (arguably) the most significant guiding idea in this country!

[littlerogey]

Canada wouldn't have such a slow population growth is a tiny small house wasn't around 2 million dollars. If you can't even afford to survive why would you want to bring a life into this world so they can suffer. Canada needs to have better wage regulations to keep the middle class going. I also say this as someone that makes nearly 3 times the average wage and still can't afford a house.

[adam]

Live in Canada... Dad had to have his thyroid removed, go on meds then have a diseased heart-valve removed all within 6 months... cost him nothing except the TV we kept buying for him ($30 a day is a lot man...) while he recovered in hospital. Brother had a completely shattered ankle, needed several specialists to piece it back together, 20 steel rods, 6 months of pain and agony and it cost $400 for some nice comfy crutches. If for nothing else, I love this country for that. I, thankfully, have not needed it's help nearly as much but I am infinitely grateful that if something happens, it will not be the financial ruin of me, regardless of my income.

[s.n.]

Has been living 5 years in Vancouver, now planning to move to the US due to high prices for living. Simple house costs around 1.5M $ which makes it impossible to buy for single household with the income of 100k.

[cascadianseagull]

Excellent video! I'm an American biz owner in Washington state that has been trying to partner up with Canadian firms to do business in the US, but it sure isn't easy. I completely agree that the Canadian govt needs to focus on entrepreneurship.

[zomgoose]

Canada's economy is bolstered on mortgage debt. The country may be rich but the citizens are not. Citizens are house poor.

[FaithWalkKuber]

I'm an international student in Hamilton, Ontario and can validate that I love this place and i hope I can make this amazing country with amazing people my home permanently!

[Ashhhh]

I’ve been an International student here for 2 years and working here for 1 year now. Undoubtedly it’s the best country on this planet. Warm welcoming people, amazing places to visit and most importantly respectful in every terms. Canada you have my heart ❤️ God bless Canada 🇨🇦

[MichaelMcFerrin]

Canada is so rich because we are so blessed!

[agentambridge]

Being born as a Canadian and living here my whole life, ive hardly ever heard someone say “eh”

[reckonerwheel]

"Canada needs to invest in its people - not by showering more social benefits over them, but by promoting a culture of entrepreneurial mindsets and innovation." Speaking as a born and bred Canadian, we don't suffer from a lack of entrepreneurial spirit. What's happening is that we don't have enough discretionary income, therefore, we're risk-averse. Cost of living has increased faster than wages, especially when it comes to housing, both home ownership and rent. Living in areas that well away from Toronto/Vancouver does create more discretionary income, but prices are increasing everywhere at this point.

So long as you're being frugal, you can still save a fair amount, yet saving is undeniably a slower process these days when over half of your annual salary goes to basic needs. Considering the first bulk of savings goes to emergency funds and a future down payments, saving up for anything else happens later in life.

[Rancid-Jane]

11:59 Tourism struggles for a a few reasons, but one reason that is seldom mentioned is the vast distances. People who come as tourists do not have time to travel to more than one or two interesting destinations. The travel time to go to many sites is prohibitive. This is exacerbated by the great lack of mass transit outside of large urban areas. No high speed continental trains for instance.