B.C. hires UK economist to help ‘save capitalism from itself’
The B.C. government’s post-pandemic economic recovery plan won’t be seen until this fall, after a round of consultations guided by an internationally-known economist… B.C. needs clear missions to go with its new $500-million InBC investment fund, University College London professor Mariana Mazzucato said Wednesday, describing her role as an advisor to Jobs Minister Ravi Kahlon on reshaping B.C. to deal with the economic and climate shocks of the future. …Doling out innovation money to a list of key industries like forestry, mining and technology and then measuring their growth isn’t the way to go, Mazzucato said. …Kahlon cited the NDP government’s project to reorganize B.C.’s forest industry as an example of Mazzucato’s “bottom-up” approach to economic development. Long-term Crown forest tenures are being redistributed with a greater share for Indigenous land title holders and an effort to assist small-scale producers and new products.