On the 19th of June 1986, Parliament passed the New Competition Act. Although one can praise the goals of the Act, the wording of a number of sections is such that their interpretation can be counter-productive: instead of promoting competition, the effect may be to diminish it. The source of...

Canadian policymakers and regulators have been praised for avoiding many of the policy blunders that, when combined with excessive risk-taking by the banks, nearly brought down the U.S. financial sector. But, as the global economy begins to recover, policymakers everywhere need to find ways to...