Rent control has been a disaster wherever it’s been tried. But this never stops politicians from suggesting it.
Imagine you’re near what you thought was a dormant volcano but it suddenly erupts. Assuming you escape, you might later reflect that there was nothing “sudden” about it.
Over the past decade, the province of Alberta treated boom-time resource revenues like a permanent state of affairs. That set the province up for fiscal failure, for multiple lost opportunities.
It’s occasionally assumed that an environmentally sensitive approach is opposite that of a commercial approach—that ecological protection is necessarily at odds with ranching and farming.
In Alberta, to cushion the blow from falling revenues, some claim higher taxes will balance the books. How soon we forget. Alberta tried that in the late 1980s. It didn’t work.