Canada’s economic policies and economic status tends to follow that of the US. Business freedom in Canada mirrored the US until 2005 when it actually began to rank higher than the US. Canada’s trade freedom parallels that of the US. Both countries have low tariffs on imports and are free to export a multitude of goods and services. Canada has excelled over the US in the area of government spending. Canada encourages entrepreneurship, even in previously government controlled sectors. Conclusion
Government interference beyond levels necessary inhibits individual’s ability to create and maintain economic prosperity. Countries with greater economic freedom experience higher GAP rates. Government stimulus efforts have actually decreased the economic freedom and wealth in many nations. Instead of increasing government spending, better results will be achieved through regulation reforms aimed at improving entrepreneurial activity that create opportunities for Job growth. References Fisher, E. And Rubber, State to Entrepreneurship in Canada.