The growing economic gap: What it means for Canadian families and the Canadian future

Yalnizyan, Armine; Schrecker, Ted

The growing economic gap: What it means for Canadian families and the Canadian future

Yalnizyan, Armine; Schrecker, Ted

Authors

Armine Yalnizyan

Ted Schrecker

Contributors

R. Labonté
Editor

Abstract

In 2008, the collapse of the market for securitized subprime mortgages in the United States triggered a financial crisis that spread rapidly around the world. Although Canada’s financial institutions were not directly threatened as in other countries, the extent of continental economic integration meant that the crisis weakened the Canadian economy and profoundly affected the lives of many working Canadians. At the time of this writing, it is unclear when recovery will begin or how robust it will be. It is also unclear what longerterm effects the crisis will have on employment, the distribution of income, and the extent of poverty in Canada. We do know that every recent recession has brought with it a widening of income disparities and that the long term consequences of a growth in poverty and economic insecurity are felt for decades: in individual lives, on social development, and on economic performance.

Citation

Yalnizyan, A., & Schrecker, T. (2010). The growing economic gap: What it means for Canadian families and the Canadian future. In R. Labonté (Ed.), Globalization, health, and the future Canadian metropolis (112-128). Institute of Population Health, University of Ottawa

Publication Date	2010
Deposit Date	Jun 24, 2013
Publicly Available Date	Jul 10, 2013
Pages	112-128
Series Title	Transdisciplinary studies in population health
Book Title	Globalization, health, and the future Canadian metropolis.
Publisher URL	http://www.iph.uottawa.ca/eng/transdis/files/ForgottenFamiliesFinal.pdf