The author discusses that for a country to be successful there must be institutions that encourage working hard and entrepreneurship. More, the political system should be organised in a way that stimulates creation and support of such institutions. The negative consequences for politicians supporting oligarchy must be worse than for ones who introduces changes that can improve lives of regular people.
My guess the problem is not in real estate speculations - it is just consequences of underlying system inefficiencies.
I see Canada has good educational system, right? But as they say in the article, there is not a lot of motivation and places for smart engineers to do their best.
There are barriers to make changes in many areas like medicine, real estate (based on the article).
The government seems to be in a situation where due to corruption and lobbies it does not do appropriate changes. They know what to do, but they do not find it good for them personally.
Oligarchy wants to keep their positions unchallenged.
It is just my guess and pure speculation, I do not know much about Canada.
The author discusses that for a country to be successful there must be institutions that encourage working hard and entrepreneurship. More, the political system should be organised in a way that stimulates creation and support of such institutions. The negative consequences for politicians supporting oligarchy must be worse than for ones who introduces changes that can improve lives of regular people.
My guess the problem is not in real estate speculations - it is just consequences of underlying system inefficiencies.
I see Canada has good educational system, right? But as they say in the article, there is not a lot of motivation and places for smart engineers to do their best.
There are barriers to make changes in many areas like medicine, real estate (based on the article).
The government seems to be in a situation where due to corruption and lobbies it does not do appropriate changes. They know what to do, but they do not find it good for them personally. Oligarchy wants to keep their positions unchallenged.
It is just my guess and pure speculation, I do not know much about Canada.
EDIT: added more on concequences