The combination of economics and politics is often a distant relationship that tries to achieve a middle ground but fails to do so. Economics gives a rational solution about scarce resources that often have empirical knowledge behind them. While politics has representatives (politicians) attempting to achieve an out come for the people they represent (society). Often the politics make promises that are just not realistic when you factor in the economics. For example, the Northern Gateway pipeline currently being proposed in British Columbia is creating controversy between what it is capable of doing and what it will actually do. Right away the NDP and Liberals are throwing their own ideologies around on a project they know little to nothing about. Yet they feel as if they are experts on such a topic. Often these two political groups put their own interests in front of the peoples and have little regard for the facts. I believe that these two forces should come together and try to overcome political tension by appointing an out of province review board of the project that can present unbiased ideas about what is really going on in the pipeline market. By doing so, both political parties will look competent in societies eyes.
Bottom Line: Bringing in a Third Party that is creditable will help society from a different perspective on projects.
* These guest posts are from students in my resource economics class at Simon Fraser University. Please leave feedback on their logic, ideas and style and suggestions of how to improve.