Baseball, Business and Canada – Short- or long-term?
It is no secret that I am a big baseball fan. With its rich history, statistics, heroes and hopes dashed in summer pennant runs, having grown up in a Central American country I took to the game as Friedrich Hayek took to economics. Baseball is a game of strategic management. Assets are evaluated, purchased, groomed, and if they work out they get a crack at the big leagues. In today’s business-dominated world of baseball you often hear owners and general managers muse over sabermetrics and low risk, high reward players.
A player like David Ortiz of the Boston Red Sox may be the greatest “low risk, high reward player” ever. Dumped in 2003 by the Minnesota Twins for $50,000, then Boston Red Sox General Manager, Theo Epstein, acquired Ortiz, labelling him a low risk player with great potential. Fast forward 13 years and Ortiz has been one of the most productive and prolific hitters in baseball history. The reward paid off for Boston with exorbitant revenues, three World Series championships, and the longest home sellout streak in Major League Baseball history.
Playing the long game is why we have invited the Honourable John Manley, President & CEO, Canadian Council of Chief Executives, to speak at separate dinner events for AIMS on September 21 in Charlottetown, and September 22 in Halifax. The talk is titled Taking the Long View: Ensuring Canada’s Success in the 21st Century. In today’s hyper-connected world, it is easy to get trapped in a short-term mindset. But, if we don’t have a clear sense of where we want Canada to be 10, 15, or 20 years from now, we are unlikely to get there.
Join us as we hear Mr. Manley’s vision for Canada in the 21st century, and what Canadians need to do to realize our country’s potential in the global economy. This incredible networking opportunity will bring together many of our region`s top business minds from multiple industries to discuss relevant ideas shaping our future. You can register for the event by clicking on the image below.
President and CEO
2015 AIMS Chairman Dinner
Please register for the John Manley events by clicking HERE.
Very much in the same space and mindset of thinking long term, comes A Good Problem to Have: Lessons for Atlantic Canada from Alberta’s Experience with Natural Resource Revenue. Co-authored by Senior Fellow, Robert Roach, Research Associate, Jeff Collins, and AIMS President and CEO, Marco Navarro-Genie, the paper calls for stability in Atlantic Canada’s strategy to transform non-renewable resources into a permanent financial asset. It calls for a rational but patient strategy to save resource revenue and create sovereign funds that can later help moderate the stresses of dealing with highs and lows of resource prices and therefore stabilise budgeting. The paper looks at examples in a few jurisdictions from which Atlantic Canadian provinces could learn.
A case in point as we write this issue, at end of day August 25, 2015, WTI Crude Oil was trading at $39.31/per barrel and Brent Crude Oil at $43.21/per barrel, hardly enough to sustain economies tied to natural resource revenue.
One of the recommendations of the paper that could alleviate this problem is to budget spending from the previous year’s revenue instead of planning to spend from forecast.
Alberta should save all of its resource revenue – Robert Roach, AIMS Senior Fellow
June 9, 2015 – Calgary Herald
Robert Roach explains why Albertans need to decide if they want to feel the pain now so they can reap the benefits of resource revenue later.
Save and spend, in that order – Robert Roach, Jeff Collins and Marco Navarro-Genie
June 9, 2015 – The Telegram
Atlantic Canadian governments are in a tough spot when it comes resource revenue. Should they invest royalties now for future gain, or continue spending on programs? It’s a question Robert Roach, Jeff Collins and Marco Navarro-Genie examine in this op-ed to The Telegram.
AIMS hits the airwaves across Atlantic Canada
Two new AIMS produced radio spots have taken the airwaves. They tackle important issues facing Atlantic Canada, with the hope of provoking a conversation.
With the Radio Project reaching 350,000 Atlantic Canadians weekly and creating more than 1 million impressions, the project is already gaining significant traction. Our most recent spot calls for a sound policy resolution to problems associated between the economy and environment. The Atlantic region can gain significantly without sacrificing environmental standards. To listen, click here.
Previous radio spots can be found at:
Is a proposed minimum wage hike to $15 good for the economy?
Atlantic Canadian governments should consider investing resources revenue for the long-term.
Ontario’s emergence as a have-not province has placed pressure on the equalization system and is leading to reduced equalization payments as a share of GDP in all three Maritime provinces.
Equalization needs to be reformed so that ALL provinces are encouraged to develop their own natural resource base while creating jobs and generating economic growth.
Public Participation in Quality Health Care and Policy Reform
AIMS’ first Public Participation in Health Care forum last spring brought together Influential leaders and experts from a diversity of backgrounds who share an interest in effective health services delivery.
This dedicated core group of professionals helped to identify key barriers to patient participation in health care along with issues of governance and health literacy.
On October 13, 2015, AIMS will host a second forum and bring together disease-focused community-based organizations, members of the cooperative sector, and the public at large to weigh in on the topic of barriers to public participation in health care.
Dr. David Zitner, a Senior Fellow with AIMS, is leading this initiative, together with AIMS president & CEO Marco Navarro-Génie and research associate Jeffrey Collins.
If you have any questions regarding this AIMS event, please contact:
Marco Navarro-Génie, PhD
email: marco.navarro-genie at aims.ca