Perspectives: A Canadian Journal of Political Economy and Social Democracy

A Better Way Forward with Liliana Camacho

Broadbent Institute

Liliana Camacho explains that while rising costs are squeezing businesses, increasing wages and capping rent are not the problem—they’re actually part of the solution.

Even Canadian businesses know that low wages and the high cost of housing are two big factors in the cost-of-living crisis, and are hurting customers and business itself. Liliana Camacho, economist at the Better Way Alliance, argues that while rising costs are squeezing businesses, increasing wages and capping rent are not the problem—they’re an investment in better and sustainable business.

Raising wages has a cascade effect, strengthening the economy and benefiting both workers and businesses alike. Housing affordability is not just a crisis for renters—it’s a crisis for businesses too. With rents outpacing wages, and customers being limited in their spending with wages failing to meet the cost-of-living, how are businesses navigating the squeeze? What policies and structural changes could ease the burden? Camacho explores these pressing questions and offers insight into the road ahead for Canadian businesses. Rather than cutting wages to survive, Camacho talks about alternative approaches to adapt to the current economic climate.

Listen to our conversation with Liliana Camacho on how businesses can adjust to rising costs and why fair wage growth is key to long-term resilience.

Notes

People on this episode