This Economic Insights article examines the extent to which the lifetime income of children is correlated with the lifetime income of their fathers—a topic known as intergenerational income mobility. The analysis uses data from Statistics Canada’s Intergenerational Income Database, which links together children and their parents using tax files. The data provides information that permits the comparison of the income of children to those of parents at a similar stage of the lifecycle.
This article by staff at StatsCan looks pretty straightforward at first glance. It tells the story of the ‘Canadian economy’ for the year leading up to this fall. However, the real story lies elsewhere. As I’ve noted a hundred times, Canada doesn’t trade, ‘it’ doesn’t produce goods. it doesn’t sell goods. Those activities are carried out by business, largely in the form of large multinational corporations. That’s where you have to look if you really want to figure out what’s going on in the world of ‘economics.’ More on this soon, although a search through my archives will yield a lot of writing on this topic.