The deep and lasting cuts of neoliberalism
Since the mid-2000s, the hegemonic neoliberal order has itself entered crisis, driven above all as a political reaction.
Since the mid-2000s, the hegemonic neoliberal order has itself entered crisis, driven above all as a political reaction.
Mark Carney does not deny the need for government supervision and regulation to balance corporate capitalism with broader social goals. But his faith in socially responsible capitalism is excessive.
The global economy has to be seen, not so much as a set of discrete national economies trading with each other, but as a vast “macro financial” web of corporate balance sheets and financial flows.
In this new age of corporate concentration, we certainly need a much broader response than competition policy alone.
A necessary prerequisite for restoring Western democratic capitalism, and even more so social democracy or democratic socialism, is to force the genie of finance back into its bottle.
At this moment of deep political convulsion throughout the West, the fight against privatization is part of a broader struggle against the economic logic that has led to corrosive inequality and underpinned the bankrupt neoliberal economic paradigm.
Acquisitions by foreign corporations of Canadian companies may be in the interests of shareholders and corporate executives, but harmful from the perspective of workers and local communities.
The Harry Kitchen Lecture in Public Policy was delivered by the Broadbent Institute’s Andrew Jackson, on April 8, 2015 to the Department of Economics at Trent University.