TORONTO—The Harper government is a bad gambler and not a great economic manager. It bet on the oilsands and natural gas to lead its job creation and economic growth agenda. But, as the collapse in oil prices and the cut backs in investments and jobs now show, it was a bad bet to rely so much on one sector. Even worse, it bet that aggressive monetary policy had the power to generate a stronger economy with a surge in productive private-sector investment and consumer spending, leaving it free to cut off economic stimulus and pursue a balanced budget in time for the election this year. That too has been a bad bet.
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