Bank of Canada's Mark Carney Pwns Every Other Central Banker Who Has Ever Opened His Mouth
pic credit: banksy
Sorry, every other central banker except one.
See The virtue of productivity in a wicked world, remarks to the Ottawa Economics Association March 24, 2010. I cried. I cried and then I cursed my awful fortune for being stuck with Bernanke's dry dull ass.
The cognoscenti wearily deride these shortcomings even while they acknowledge their importance. After all, who really wants to talk about getting old? Similarly, the subject of productivity is described as too dull, or worse, too threatening for Canadians. It is said to imply working harder, not smarter, or to promote job losses rather than income gains. These debates are thus thought best confined to the policy wonks, in order that our diagnoses and prescriptions can occur in a parallel, forgotten universe.
However, one wonders, who would not want to be productive in their work? Is there a child whom we do not want to reach his or her full potential? Could what Canadians expect of their economy be so very different from what they expect of themselves?
Our ambitions for the Canadian economy should be bold. We are a country of immense strengths and, as demonstrated during the recent crisis, considerable resilience. Yet Canada does underperform. We are not as productive as we could be. Our potential growth is slowing. Moreover, this is occurring as the very nature of the global economy, in which we previously thrived, is under threat. This debate can no longer be avoided.
What, then, must be done?
Hint: laziness is not his answer.
Thump thump, I think I have a new central banker crush.