The economics of First Nations governance : Économie de la gouvernance des Premières Nations : capitaux d'investissement, argent et accumulation des richesses

In order to understand what is being done it is necessary to appreciate the general nature of capital and place this squarely within the history of the administration of First Nations in Canada and the politics of modernisation. [...] The Nature of Capital: The Lifeblood of a Modern Economy In order to understand how modern capitalist economies work it is necessary to appreciate the concept of ‘capital’, because in a market economy the creation and use of capital stimulates economic growth. [...] Another example of the problems with the reserve system has been the inability to easily secure land interests for financing, given the Indian Act restrictions on the seizure of certain types of interests and where the creation of interest requires the approval of federal bureaucrats with little or no local knowledge. [...] Developing the Appropriate Legal Structure: Supporting First Nations’ Capital Investment The process of making that which is extralegal, the local responses to the Indian Act and the myriad of customary practices of property rights on-reserve, needs to be developed from the ground up, community by community. [...] The decisions individuals make with respect to how they use their own money, and how governments use the public purse, are important to maximizing both personal and public wealth, now and in the future, in the short-term and the long-term.