The Atlantic Provinces are slowly recovering economically from
generations of misfortune, mistakes, and questionable political
treatment. With major projects now including offshore energy in
Newfoundland and Nova Scotia, new hydro power in Labrador (Newfoundland), military
shipbuilding now underway in Halifax, along with the
deepening research base at universities across the region and
new infrastructure investment coming from the Federal government, we can
say the future is looking brighter for the region than in many decades.
The new trade agreement between Canada and Europe presents new
opportunities for Atlantic Canada as Canada’s gateway. And
more…
But policy direction, in particular energy
policy and options are now crucial in light on commitments
to address climate change. In addition there is major political
uncertainty in the US, our largest trading partner, regarding term of
trade.
Underneath all these developments is the question
of What
kind of prosperityshould the Atlantic provinces
be seeking? How can a small, open, economy like ours be a sustainable
economy? How can it take take advantage of its assets including
location, to develop beyondthe extremes of boom and
bust cycles, which often beset small regions?
What policies will help most to address
these questions?
In particular, since energyand our dependence on
imported fuels is one of the most crucial, but
unpredictable, levers of economic stability, what direction can
and should our energy policy in this region take?
Questions: As a
prospective economist, please provide your advice to government
on policy and investment in this region which
may encourage sustainable economic development here, and in
particular the development of energy- its use and
development.
Background questions include how can we encourage new
investment in hard and soft infrastructure while accepting
the verylimited financial resources available to our
governments. The financial constraints are real, a
result of many deficits needed in the region to overcome historic downturns.
How should we approach the issue of economic growth vs.
sustainability, particularly in the contentious area of energy?
Is your view that it’s a matter of economy vs environment,
or is that a false dichotomy?
Specifically, in no less than 2 and no more than 3 pages
(double spaced, 12 pt), provide your most full response to the
following:
a) What, in your view, are the key economic issues for
the Atlantic provinces to address in the coming years, given
our limited financial resources but strong human capital?
b) In particular, describe the most appropriate, sustainable
vision for energy use and development in this region?
c) Finally, what indicators of prosperity should
the region focus on? Along with output (GDP), what indicators will
be the most important for the future of a small, open economy like ours?
