I'll begin by echoing Tony Bates about "the stupidity of severe austerity measures to pay off bad bets by banks and bad decisions by governments who wouldn’t face reality" and like him move on from there. Tony Bates talks about the production of graduates for whom there are no jobs, but as Daniel Lemire suggests, simply producing PhDs won't solve the math an engineering shortage either - you have to produce paying jobs, not newly minted graduates. And that it is these jobs that are in short supply, especially in regions practicing austerity. But not just that - "The current system is unsustainable from a financial and quality perspective." So there are going to be changes, even in Canada. more on this later.
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