ECONOMICS-3017 - What are Mancur Olson Jr.’s two Competing Hypotheses - Economics Assignment Help

Assignment Task

Part I

Answer all 6 questions.

1. In terms of improving our standard of living, would it be better for the government to encourage Research and Development to take place in Canada or to increase the
rate of saving to increase the size of the capital stock in Canada?
2. What are Mancur Olson Jr.’s two competing hypotheses for why some countries are rich and some are poor? How would we “test” for which one is correct?
3. Canada’s early nineteenth timber staple episode was relatively brief but appears to have been vital for the long run development of Upper Canada (Ontario’s) economy. Somewhat perplexing is the fact that the same staple episode did little for New Brunswick’s economy over the long run. Can we use the Staples Thesis to explain why timber was a blessing for Ontario but a curse for New Brunswick?
4. Based on McCallum’s work on the Modified Staples Thesis, why is it surprising that Ontario (Upper Canada) became wealthy from wheat exports? How did Ontario
manage to evade the linkage capture capabilities of the Quebec (Lower Canada) merchants?
5. Describe what is meant by the statement “Industrialization was driven internally in Ontario, and externally in Quebec,” and explain the implications of the differences in industrialization processes for the relative standard of living in the two provinces.
6. With the end of Britain’s mercantile policies, the BNA colonies lost their preferential access to the British Market in the 1840s. What did the colonies do in the 1850s to try to restore their economic prosperity? How did this situation improve their economic position relative to what they had under the British Mercantile policies? Finally, was this policy direction a “success”?

PART II:
The purpose of this course has been to examine the development of the Canadian economy to inform us as to what policies might be useful in future for ensuring the
continued rise in the standard of living of Canadians. After 20 years of unprecedented uninterrupted expansion of the economy, it appears that the growth of the Canadian
economy is slowing down. It seems that something should be done to ensure that our economy does not stagnate.

Consider the following three general strategies for economic development, and for two of the three, discuss whether you feel it will be useful for generating intensive growth in Canada, and whether that growth will be sustainable.
i. Investment in pipelines, railways, highways and a Northwest passage “shipway” to encourage resource exports from Canada’s Northern Territories.
ii. Encourage further integration of the Canada and US economies by pursuing a revised free trade agreement and possibly by adopting the US dollar as Canada’s currency.
iii. Halt, if not reverse, the process of Canada’s integration with the US by pursuing an inward looking strategy of development with high tariffs to protect domestic manufacturing, and by seeking out new markets for Canadian exports.

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