Paper Boom: Why Real Prosperity Requires a New Approach to Canada's EconomyAt the end of the 1990s, high finance in Canada experienced an unprecedented boom: the stock market, banks, and mutual funds were are all growing at a record rate. Author Jim Stanford examines the world of high finance in this revealing book. Although the sale and purchase of financial assets grew exponentially during the nineties, the performance of the real economy was dismal by comparison. Stagnant production of real goods and services failed to keep up with explosive growth in the world of finance. Paper Boom examines alternative policy directions with regard to real investment, job creation, and productivity. Paper Boom is a wide-ranging examination of the Canadian economy in the 1990s, highlighting the contrast between a booming paper economy and a stagnant real economy. |
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activity actually Author's calculations average Bank of Canada billion bonds boom calculations from Statistics Canada's economy capital accumulation Chapter cial companies cost credit unions Crown corporations debt decade decline deficits dividend dollar earned economic growth employment equity ethical funds ethical investing ethical mutual funds federal financial assets financial industry financial investment financial markets financial wealth firms fundamental global hence higher households important income income trusts increase individual inflation initial institutions investment in Canada investors labour market macroeconomic measures ment mutual funds NAIRU nomic non-financial overall paper economy pension funds private investment productivity programs public investment purchasing real businesses real capital real economy real interest rates real investment spending rise RRSP savings sector share prices shareholders small business social Source Statistics Canada stock market subsidies tion Tobin tax Toronto Stock Exchange trade variables venture wages workers