Andrew Jackson

Andrew Jackson is the Broadbent Institute's Senior Policy Advisor.

In September, 2012 he retired from a long career as Chief Economist and Director of Social and Economic Policy with the Canadian Labour Congress.

In 2011, he was awarded the Sefton Prize by the University of Toronto for his lifetime contributions to industrial relations. Educated at the University of British Columbia and the London School of Economics and Political Science, where he earned a B. Sc. and an M.Sc. in Economics, Andrew is the author of numerous articles and five books, including Work and Labour in Canada: Critical Issues, which is now in its second edition with Canadian Scholars Press.

Posts & Activities by Andrew Jackson

  • Investment should be the federal budget priority

    wood-wwworks.jpgThe federal Budget to be introduced on April 21 should have one clear priority – to boost public and private investment so as to create jobs now and a more productive and sustainable economy tomorrow.

    The slowing Canadian economy continues to be mainly driven by household borrowing fuelled by ultra low interest rates. With wages stagnant, families are still going deeper into and deeper into debt to spend more than they earn, setting the stage for a nasty housing crash and a rude shock to family finances down the road.

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  • Financial markets signalling stagnation

    market-imosaad.jpgWhich gives us a better picture of where the economy is headed -- near record low interest rates on government bonds or a stock market that is not far below record highs? 

    In Canada as well as the United States, bond yields are just above record lows. The interest rate on 10-year Government of Canada bonds is about 1.4%, meaning that investors are prepared to lock in their money for 10 years for a return well below the official 2% inflation rate target. 

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  • Canadian economy suffers from myth of comparative advantage


    Economists love to talk about the theory of comparative advantage, which holds (somewhat counter intuitively) that two countries trading with each other will be better off if each specializes in what it does best, even if one country has an absolute competitive advantage in the production of all goods and services traded.

    David Ricardo famously argued that it made sense for England to specialize in the production of cloth and Portugal that of wine, even though Portugal could produce both goods more cheaply.

    Unfortunately, the theory has limited application to the real world, and can have pernicious policy consequences.

    article originally appeared in the Globe and Mail's Economy Lab.

    Photo: teegardin. Used under a Creative Commons license BY-SA-2.0

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  • The Unbalanced Thinking Behind A Balanced Budget Law


    The Harper government claims to be paragons of fiscal virtue. They have pledged to balance the federal budget this year, notwithstanding a slowing economy, and are likely set to announce details of  the balanced budget legislation promised in the 2013 Speech from the Throne. 

    The promised legislation will disallow annual deficits in “normal economic times” (whatever they are) and “set concrete targets for returning to balance in the event of an economic crisis.” 


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  • Budget 2015: It is Time to Invest, Not Cut


    In the run-up to the delayed federal budget, there is a strange disconnect between fiscal policy and our changing economic circumstances. Balancing the budget seems to remain the key political priority, as if nothing had changed.

    But the collapse of oil and other resource prices has changed a lot. Most notably, the Bank of Canada has, unexpectedly, cut interest rates to take out “insurance” against a serious slump in our resource-dependent economy. TD Economics forecast slow growth of just 2.0% this year, and have projected that unemployment will rise by 0.2 percentage points in the next few months.

    Meanwhile, Prime Minister Stephen Harper has said that he will not run a deficit unless and until Canada falls into an outright recession, something we would know only in hindsight.

    This article originally appeared in the Globe and Mail's Economy Lab. - See more at:
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  • Inequality and Inter Generational Unfairness


    There has been a great deal of recent media commentary on inter generational unfairness, much of which misleadingly argues that affluent older Canadians are benefiting from current economic and social arrangements at the expense of youth.

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