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Economic Development
As Canadian’s mortgage debts continue to rise, it might result in less entrepreneurship and hurt the country’s economy in the long run. Real estate inflation is not uncommon in major cities with homebuyers typically spending over 30 per cent of their income on mortgage payments. While the issue of unaffordability …
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America’s Big Advantage Over China and Russia: Demographics
Economic Development
Aside from GDP and military spending, a country’s demographic profile could critically impact its ability to generate wealth and power. A shrinking working-age population that could not support the society’s retirees often had to redirect more economic resources into old-age pension programs, leaving less available for geopolitical ventures. The US, …
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The geography of AI
Economic Development
AI is known to be one of the most futuristic innovations. It is theorized that AI will have the power to increase productivity levels across the United States. However, this technology also has many national and regional implications, especially now that the U.S. is going through its recovery phase of …
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The new economics of global cities
Economic Development
As cities prepare for economic recovery from the COVID-19 pandemic, it is now recognized that it may be more complicated than expected. Prior to the pandemic, economic and cultural activity was booming in concentrated cores of large cities. However, when the pandemic arrived, more people began to shift to the …
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Almost half of all Americans work in low-wage jobs
Economic Development
A study by the Brookings Institution found that about half of the workers in the US (between ages 18-64) are working in low-wage jobs. Low-wage jobs represent one-third to two-thirds of all jobs in many metropolitan areas, and in smaller cities such as New Mexico, more than 6 in 10 …
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Income gap in Canada widening at ‘dramatic’ pace, CIBC says
Economic Development
A new study from the Canadian Imperial Bank of Commerce reveals that Canada's income gap might be widening at a quicker pace than previously expected. During the pandemic, workers who earn less than $13.9 experience a 20% decrease in employment, while those who earn over $41.73 have increased by over …
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The success of Iceland’s ‘four-day week’ trial has been greatly overstated
Economic Development
The media touted ‘4-day’ week is far from being the norm yet, despite seeming success in a reduced work hours trial. Conducted by Iceland’s Association for Democracy and Sustainability and the British think tank ‘Autonomy’, the experiment intends to investigate the impact of shorter working hours on productivity. The media’s …
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