Category: Economy
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Taxing the Rich is Only a Start, Though it’s a Good One
It’s become near-consensus on the social democratic left that you can fund a decent welfare state by taxing the rich and shrinking the military. Sad to say that isn’t true. Those are good things in themselves, and you could pay for some excellent things with that agenda, but it would still be well short of … Keep reading »
Revaluing Capitalism for the Long-Term?
In the wake of the 2007–08 financial crash, the mainstream debate has not focused on the choice between socialism or barbarism, but rather on ‘reinventing capitalism’. Faced with a populist ‘other’ ranging from ‘Trump and Brexit’ to the popular but as-yet-ill-defined ‘socialism’ of Corbyn and Sanders, the liberal bourgeoisie in the Atlantic heartland of the … Keep reading »
Beyond NAFTA and CUSMA: Democracy Not Corporatocracy
The Canada-United States-Mexico Agreement (CUSMA) falls short of any real alternative, rather it follows a long line of neoliberal trade agreements that have little to do with trade and everything to do with facilitating profit generation for multinational corporations. We discuss the trade agenda and the current political context in Mexico and Canada as well … Watch video »
Globalization’s Corroding Edifice
The World Bank’s World Development Report (WDR), published every year since 1978, plays a similar role to that of the state of the union address in the US, in which the president hopes to keep the faith of the Congress and public. Its task is to persuade state leaders, policy-makers and academics, directors of industry … Keep reading »
Global Economic Volatility and Socio-Political Reactions
Trade and currency wars, financial volatility and economic turbulence are now the most important features of the world economy. The elements of a new international financial crisis are in place. Although we do not know when it will break out, it is unavoidable, and its impact on world economy will be as significant as the … Keep reading »
Make GM Government Motors Again
Seven years ago, we owned General Motors (GM). With 49,000 autoworkers walking pickets to finally end the concessions, it’s mind-boggling to remember that the US Treasury owned GM for three years – and managed to do virtually nothing to benefit the working class with it. Keep reading »
Ten Reasons to say No: A Primer on Sidewalk Labs’ Plan for Toronto
Review of Sidewalk Labs’ plans for Toronto’s waterfront and some of the reasons to say no to corporate control and to insist instead, on a democratic and citizen driven process. Keep reading »
Future Possibilities for the GM Plant in Oshawa
We believe that Oshawa could be the manufacturing centre for battery electric vans and other vehicles, anchored by production for Canada Post and other government bodies. Government action and a public ownership model would be required. There is growing support for this proposal from unions, community activists and environmentalists. It would keep good jobs for … Watch video »
Pension Plans Should Not Invest in Companies That Harm Working People
Of all the gains unions have made for workers, the ability to retire with dignity and a pension is perhaps the most valued. Last year employers and employees in Canada contributed over $70-billion to registered pension plans (RPP). It is big money. Still, just over a third of workers are covered by RPPs as most … Keep reading »
Take the Plant, Save the Planet
The Case For Nationalization and Conversion of the Oshawa GM Plant It is a tragic irony that General Motors (GM) chose its hundredth anniversary in Oshawa to announce the December 2019 closure of its Oshawa assembly plant. This means the loss of over 15,000 jobs in Ontario: 2,200 GM assembly jobs, 300 salaried positions, 500 temporary … Keep reading »
Canada’s ‘Vampire’ Pension Plan
How the Canadian Pension Plan Investment Board feeds on some futures to secure others Wet’suwet’en people have never ceded their land through treaty; like many Indigenous people they continue to practice relations of responsibility with the places and beings that give them life, including protecting them from ecological devastation. In January 2019, the RCMP raided Wet’suwet’en … Keep reading »
Public Banks and a Just and Green Transition
Public banks are resurgent, triggered by the failure of private finance to meaningfully confront the green transformation. But will resurgent public banks act in the public or private interest? How can progressives ensure public banks support a just green transformation? Democratization is the key. The turning point for public banks was really the UN’s 2015 … Keep reading »