Nova Scotia 'facing big shortage of workers' was the headline from a forum of business people and politicians in the Valley this week. The tone was one of an impending crisis as the baby boomers retire and as there are fewer people to replace them. There were calls for the provincial government to get cracking and deal with it.
A couple of years ago, I met then-Opposition leader Darrell Dexter at my local coffee shop up the road at Tusket. We talked about this and that, but his overwhelming concern was about the aging population and the impending problem we face, and his hope to have the issue addressed. So if government is more or less under control after the budget, I'll assume that he'll have some kind of committee looking into it.
Capitalism 1.0 focused on households and firms. Across the economy, workers spent what they earned to meet household needs, paying for all the goods they produced in the process. Firms made profits out of investment. In recessions, firms quit investing, and their profits disappeared. Workers lost their jobs, and the economy deteriorated.