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There is a consensus in Ottawa that Canada must transition to net-zero greenhouse gas emissions by 2050. The Liberal government says that hitting this target is necessary to “avoid the catastrophic effects of a warming climate,” and Erin O’Toole, the Conservative leader, recently made the net-zero target part of his policy agenda as well.
Here’s the problem, though: Emissions targets are economic nonsense.
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That is, whatever the targets, whatever the timeline, and whatever the plan to achieve them, emissions targets are not grounded in any economic logic. Whenever a politician, activist, or anyone else prescribes them, you can be sure that sensible policy has gone out the window.
Tech-Driven Banner Year for Stocks in 2020 Masks Pain for Smaller Companies
2020 showcased a huge market rebound and an IPO boom
News Analysis
Despite the COVID-19 pandemic, U.S. stocks ended 2020 at record highs thanks to their heavy weighting toward technology, but Canadian stocks with higher weightings toward banks and energy lagged well behind. Digging deeper beneath the headline numbers reveals what a difficult year it was for smaller companies, while larger ones tended to fare much better.
The pandemic is driving major shifts in the economy toward online shopping and working from home. These trends are reflected in the stock market a kind of judgment on the future prospects for companies and their industries.
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