Bank of Canada Governor Mark Carney recently delivered a widely-publicized major speech in Calgary on the economic phenomenon known as the “Dutch Disease.” This was more nuanced than much of the media coverage.
Governor Carney argued that the booming energy and wider resource sector concentrated in Western Canada has provided a significant boost to the national economy, creating jobs in the rest of the country in both manufacturing and services. Overall, he said, high resource prices have been a plus for Canada.
