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Carmichael: The end of the gen-X economic consensus

The 1990s are having a moment. The “60 Songs That Explain the ’90s” podcast is a runaway hit. Earlier this month, it covered its 109th song, Puff Daddy’s “I’ll Be Missing You.” Host Rob Harvilla’s book went on sale this month. It might pair well with Chuck Klosterman’s The Nineties, if you’re looking for gift ideas for that nostalgic gen-Xer in your life. 

There are four economic policies that explain the ’90s in Canada: an inflation target of two per cent, free trade, balanced budgets and active management of mandatory government pension contributions. These policies formed a consensus that was impervious to partisan attack and set up the country for a nice run of wealth creation. Following Finance Minister Chrystia Freeland’s fall economic statement this week, however, all of them are on the table for reconsideration.  

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