Economy
Alberta's economy is one of the strongest in Canada, supported by the burgeoning petroleum industry and to a lesser extent, agriculture and technology. The per capita GDP in 2007 was by far the highest of any province in Canada at C$74,825. This was 61% higher than the national average of C$46,441 and more than twice that of some of the Atlantic provinces. In 2006 the deviation from the national average was the largest for any province in Canadian history. According to the 2006 census, the median annual family income after taxes was $70,986 in Alberta (compared to $60,270 in Canada as a whole).
The Calgary-Edmonton Corridor is the most urbanized region in the province and one of the densest in Canada. The region covers a distance of roughly 400 kilometres north to south. In 2001, the population of the Calgary-Edmonton Corridor was 2.15 million (72% of Alberta's population). It is also one of the fastest growing regions in the country. A 2003 study by TD Bank Financial Group found the corridor to be the only Canadian urban centre to amass a U.S. level of wealth while maintaining a Canadian style quality of life, offering universal health care benefits. The study found that GDP per capita in the corridor was 10% above average U.S. metropolitan areas and 40% above other Canadian cities at that time.
The Fraser Institute states that Alberta also has very high levels of economic freedom and rates Alberta as the freest economy in Canada, and the second freest economy amongst U.S. states and Canadian provinces.
Read more about this topic: Alberta
Famous quotes containing the word economy:
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)