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A document worth reading in the Alberta government’s budget package tabled Tuesday was the report submitted by former Bank of Canada governor David Dodge on infrastructure investment.

The report — included as part of the government’s strategic plan — is primarily a lesson in Keynesian economics, where investments are made in times of weaker economic growth in the private sector, and also a reminder that it’s important for governments to look at long-term initiatives rather than the unrealistic Holy Grail of the annual balanced budget.

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Canada and Alberta, as small players on the global economic stage, have a very limited number of options when it comes to boosting a flagging economy.

The choices are to either use monetary policy — increasing or decreasing interest rates — or fiscal policy, which means increasing government spending.

With little room remaining on the interest rate front, governments are increasingly intervening to stimulate economic growth.