Jeff Rubin: The new economy of tomorrow

Future Former economist Jeff Rubin says the ‘new economy’ will have a wide variety of goods produced regionally with less environmental impact

Regional demand is the key to reviving New Brunswick businesses that have gone under due to the pressures of competing in a global economy.

This is what former CIBC chief economist Jeff Rubin says New Brunswick will need in a world after cheap oil.

“Your neighbours become a lot more important to you than export markets on the other side of the world that you’ll soon lose access to because of the soaring shipping costs,” Rubin says on the phone from Edmonton this week.

He is on a North American tour promoting his book Why Your World Is About To Get a Whole Lot Smaller: Oil and the End of Globalization.

In the book he argues rising fuel costs will make international trade less profitable than domestic production, forcing local consumption.

New Brunswick Business Journal