Why is Canada's economy poor?

[Muhammad Alshareef]

I was reading an article a few days back about how, out of the fortune 500 companies, only 2 were from Canada.

Why is it that the Canadian economy is so poor? Why is it then that when someone becomes really outstanding, either an individual or a company, they head south to the USA?

The typical 'excuse' that i've heard is that the population of Canada is so much smaller then the USA and because of that Canada is forever doomed to be employees of US companies.

I've heard that 'excuse' and i don't agree. I'm sure a country like Brunei, which is way smaller then Canada, but super rich (in currency), doesn't make an excuse like that and bring US companies to work for.

And I don't agree because everyone knows the economy is a global one. You can open up shop anywhere in the world and sell to anyone. So, the USA customer base is just as available to Canadians as it is to Americans.

It's an interesting topic. Any Quran or Sunnah thoughts on the matter? Any economic/psychology thoughts on the matter?

[Al Baraa]

could it have something to do with the exchange rate? American dollars are worth more than canadian dollars.

It could be that people are cold or have cold feet :D


Also...america has a large agricultural setup along with trade.

I dont know if canada imports a lot of thier food or not. Madina was largly agricultural vs Makka which was a trade economy. Madina proved to be better strategically. The same effect could be here with US and Canada.

[alisalaah]

i think its mostly psychological... or it could be that Allah want samerica to have status and wealth so they can increase in their punishment by using al that fr their evil

food for thought

[Al Baraa]

i think its mostly psychological... or it could be that Allah want samerica to have status and wealth so they can increase in their punishment by using al that fr their evil

food for thought
if you wanna go in that direction...

perhaps Allah (swt) wants America to have wealth b.c it may become the center for global govt ruled by sharia'...

Allahu Alam

[fatmir]

Asalaamu alaikum

Why do you think the Canadian Economy is poor? Fortune 500 is only one measure of an economic strength, and is biased, as it is a list compiled by Fortune Magazine of the 500 largest US industrial corporations ranked by sales.

As to your question why do companies move to the US - my two cents - two reasons (other than tax):

1. shoddy corporate governance laws. America has some of the most lax laws governing operations of corporations and their directors in the Western World (personal view - not based on independent sources). You only need to look at Enron and other corporate collapses and how they came about to understand what I mean. This results in lower costs.

2. The whole world has bought into the US's bull that if you aren't based in the US, you can't be a player on the world stage. Rupert Murdoch's propaganda machine - NewsCorp - recently made the move from Australia to the US. It was probably Australia's largest corporation and most likely moved becasue all other media "players" are based in the US or Europe and it would be more likely to attract investment if it was seen as a US corporation rather than an Aussie one. Allahu 'alum.

In my view its all about dunya and the illusion of it being a glittering jewel. America is seen as a strong economy because it defines the definitions of what is strong. People want to be seen as being part of something strong so they affiliate with it. People want to be "rich" and live in fancy houses and drive mercedes benzes, but drive themselves into debt to do it. If you drive a mercedes and are half a million dollars in debt, are you really rich or poor?

Sorry akhee (or is it still sensei :D), I'll leave the sources from Qu'raan/sunnah to you as I'm short of time. But this was my two cents.

Asalaamu alaykum

Fatmir
________
Kitchen Measures (http://kitchenmeasures.com/)

[Mandarina]

US govermnet is more business-friendly. That's all. Canada is by far more people-friendly.

[AbdulHasib]

could it have something to do with the exchange rate? American dollars are worth more than canadian dollars.

It could be that people are cold or have cold feet :D


Also...america has a large agricultural setup along with trade.

I dont know if canada imports a lot of thier food or not. Madina was largly agricultural vs Makka which was a trade economy. Madina proved to be better strategically. The same effect could be here with US and Canada.

Interestingly enough... More people would rather move to Canada, which was rated number one by the U.N. and other polls. : )

if talking....Madinah vs. Makkah

STRATEGICALLY (in my opinion)... Madinah inshAllah ta'la....

WAllahu A'lam

[alisalaah]

Winnipeg is the place to live ;)

[chebakiya]

[QUOTE=ameer]

Why is Canada's economy poor?
QUOTE]

Assalam Alaikum

I can see why people like the almaghrib forum Masha'Allah..since the Ameer also like to ask questions and engage in discussions...this is so healthy Masha'Allah...

or maybe I'm wrong..maybe ameers should stay away from asking questions and act like they know all the answers hehe

Wallahu Allam

Insha'Allah we'll take the best approach always

PS. do let me know some1 how to use quote feature Insha'Allah

[alisalaah]

Why is Canada's economy poor?
QUOTE]

Assalam Alaikum

I can see why people like the almaghrib forum Masha'Allah..since the Ameer also like to ask questions and engage in discussions...this is so healthy Masha'Allah...

or maybe I'm wrong..maybe ameers should stay away from asking questions and act like they know all the answers hehe

Wallahu Allam

Insha'Allah we'll take the best approach always

PS. do let me know some1 how to use quote feature Insha'Allah


just hit the qoute button on the post you want to qoute and you can edit also you were just missing the / in at the end

[alisalaah]

okay so i double qouted ;) i meant to say in the "[/Qoute]"

[Salman]

I think we need an Economist brother to step up and answer this question. In my opinion, and I can only give the technological perspective, is that from the mundane perspective, the economies usually prosper on trade, but they need to have assets/goods to trade. During the world wars, countries like Germany and Russia were considered most advanced because they had the latest and greatest technology, and they were able to dominate the global economy. The US got their act together since then and heavily delved into research. Inadvertently, through a series of inventions, coupled with Information Age where the global economy was looking for the next giant leap in technology, hence, the Internet played a big role. And all of a sudden, everyone turns their attention towards them for their needs. It's interesting though, because countries like Germany still are heavily delved ito technological advancements, but it still cannot compete with the US in terms of economy. Hence, there's more to the theory of a country having to have capital/assets/goods to trade in order to be successful.

I present a supplement theory based on the lives of the sahabah: the muslim economy during the time of Omar became pretty lucrative, and that too without much technology, but the Prophet SWS did leave behind human resources in the form of sahabah, and laws that, if followed would bring benefit, and not technology alone. So, a country has to have the right human resources and laws in place to foster the economy. With these two as primary elements, goods/assets become secondary, looking at the lives of the sahabah.

Within human resources, I would say honesty and sound knowledge+wisdom is what matters. I've seen a brother who played the stock market knowing the techniques, and Masha Allah he was very sucessful. Honesty would play a big factor as well because it's tied directly to oppression or protection of rights.

So, can we have the Economist brother please step up and steer us in the right direction? and if my theory on human resources (honesty, sound knowledge+wisdom) and laws is close to being right, then Ustaad Muhammad, you'll have to send me a Canadian can of Pepsi. I'm curious what it tastes like. lol. fair enough?

[Al-Muthanna]

[QUOTE=Muhammad Alshareef]I was reading an article a few days back about how, out of the fortune 500 companies, only 2 were from Canada.

Why is it that the Canadian economy is so poor? Why is it then that when someone becomes really outstanding, either an individual or a company, they head south to the USA?

The typical 'excuse' that i've heard is that the population of Canada is so much smaller then the USA and because of that Canada is forever doomed to be employees of US companies.

I've heard that 'excuse' and i don't agree. I'm sure a country like Brunei, which is way smaller then Canada, but super rich (in currency), doesn't make an excuse like that and bring US companies to work for.

And I don't agree because everyone knows the economy is a global one. You can open up shop anywhere in the world and sell to anyone. So, the USA customer base is just as available to Canadians as it is to Americans.

It's an interesting topic. Any Quran or Sunnah thoughts on the matter? Any economic/psychology thoughts on the matter?[/QUOTE


Salamu Alaycom,
The Canadian economy is not so poor and the fact that only 2 out of the 500 most fortune companies are Canadian is not an accurate indication.
The US helath care system is no wherenear ours.
the US gov does not pay for its kids to go tocollege and thats why many of them ended up in Iraq.
In the US if you do not have a job you end up on the street.. it is not that baad in here.
Our greate social system is costing our economy money. We are not like the US. we have to work for the money we get cause we do not take other peoples money.
also what is the point of having the most fortunate companies when the average middle class kid can not pay for his college like in the US???