|Published online: April 29, 2015||$US5.00|
This paper investigates whether the so called "crisis hypothesis" applies to Nova Scotia using the New Democratic Party’s (NDP) claim that the Province will be in a serious financial deficit crisis by 2013 if nothing was done about the problem. This hypothesis is based on the observation made by a number of scholars, that a major economic crisis, whether real or perceived almost always precedes the launching of a reform effort. Throughout the analysis I have argued that although Nova Scotia has deficit issues, however, the situation is not as dire as the NDP have claimed it. Based on the analysis of the financial and economic situation of the Province I find that there is no evidence that the Province is very likely to default in 2013. Hence, the rhetoric about Nova Scotia’s deficit situation and the need to live within our means as well as to bring the budget to balance in four years time are just meant to create an environment of panic (pseudo-crisis) to enable the new government to implement unfavorable policies.
|Keywords:||Crisis Hypothesis, Fiscal Deficit, Nova Scotia, New Democratic Party|
The International Journal of Interdisciplinary Civic and Political Studies, Volume 10, Issue 3, September 2015, pp.23-33. Article: Print (Spiral Bound). Published online: April 29, 2015 (Article: Electronic (PDF File; 418.646KB)).
PhD Candidate, Interdisciplinary PhD Program, Dalhousie University, Halifax, Nova Scotia, Canada