Monday, November 12, 2012

Canadians are richer than Americans: because of a rational sociopolitical setup

I read in Foreign Policy that the average Canadian is for the first time richer than the average American. The article states that Canada slashed its deficit in the 90s, but so did the US under Clinton - even generating a surplus - before Bush's tax cuts for the rich and wars spending and Obama's poorly designed stimulus package. 

So is this increased prosperity because Canadians have a rational health care system that provides coverage for all thus reducing costs? Or because they resisted the ideology of mindless deregulation for its own sake thus largely inoculating themselves from the effects of the 2008 financial crash? Or maybe because their government isn't nearly as comprehensively owned by corporations and is much more diverse thus resulting in wiser public policy? Or maybe a combination of these?

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