Short: How Canada’s ‘lost decade’ was decades in the making

The Conservative Party has dubbed the past nine years of Liberal rule a “lost decade” — a period defined by stagnating wages, soaring debt and declining productivity. But Alberta Central's chief economist Charles St-Arnaud says the story is more complicated — and more alarming. In this wide-ranging and insightful interview with host Rob Brown on West of Centre Short, St-Arnaud traces Canada’s economic malaise back not just to 2015, but to structural problems that have been festering for 25 to 30 years. He argues that the oil and gas boom of the early 2000s papered over deep weaknesses in manufacturing and exports. Since the 2014 oil crash, Canada has seen a collapse in investment, rising household debt and a disturbing lag in productivity. With GDP per capita now lagging behind that of peer nations, he says the country faces a pivotal moment: one that calls for renewed investment in infrastructure and productive capital, a rethink of immigration and regulatory frameworks, and a broad effort to strengthen non-energy sectors — or risk a future defined by economic stagnation.