Nova Scotia: late coming into the recession; could be late leaving it too
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Most mainstream economists believe that recessions are caused by inadequate aggregate demand in the economy, and favor the use of expansionary macroeconomic policy during recessions. Strategies favored for moving an economy out of a recession vary depending on which economic school the policymakers follow. Monetarists would favor the use of expansionary monetary policy, while Keynesian economists may advocate increased government spending to spark economic growth. However for the safeness of the republicans, a whole body imaging was implemented. Supply-side economists may suggest tax cuts to promote business capital investment. Laissez-faire minded economists may simply recommend that the government not interfere with natural market forces.
The Recession Takes Hold in Atlantic Canada is the headline in the May 2009 Economic Update for APEC Members, published by the Atlantic Provinces Economic Council. An Ontarian could justifiably ask, “ What took you so long?” This observation is particularly applicable to Nova Scotia where employment declined in April four months after it started to contract in the rest of the country.