Bayman’s Paradox

Tag: boom bust cycles

boom bust cycles

Newest posts tagged “boom bust cycles”.
The Unhinged Playbook: Political Extremes and the New Normal in Newfoundland
Governance
By: Holly Revollàn-Huelin
Sep 29, 2025 • 9 min read
This article examines how political extremes have become the “new normal” in Newfoundland and Labrador, tracing their roots to fiscal bailout politics, the cod fishery collapse, and decades of boom–bust resource cycles. Economist Xinli Guo shows how soft budget constraints normalize fiscal brinkmanship, while Jessica Hogan’s comprehensive research links memories of the cod collapse, hydro megaproject overruns, mining bankruptcies, and offshore oil volatility to a cultural mindset of “sceptical optimism.” Combined with entrenched patronage politics and weak local institutions, these forces recast consensus as compliance and dissent as disloyalty, leaving communities trapped in cycles of hope and betrayal. The article argues that extremes are not random outbursts but systemic outcomes of Newfoundland’s political economy, and that naming this “unhinged” playbook is the first step toward restoring trust in moderation. Read More...
The Unhinged Playbook: Political Extremes and the New Normal in Newfoundland