Crony Capitalism in Canada

Introduction

My interest in writing this paper was to combine my understanding of Canadian law and its economic systems to discuss unsustainable practices in current government policies and develop suggestions for future improvements. I submit that my previous exposure to Marxist perspectives regarding income inequality directed my inquiries towards more left-leaning ideologies; however, I have come to accept that the promotion of healthy marketplaces can achieve a sustainable future for Canada and its provinces. Over the last decade I have been attracted to a variety of topics of academic research including, financial engineering and portfolio development, Canadian education policies, and foreign investment procedures.

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Argentina’s Sovereign Debt & Financial Crises

Argentina’s political history has experienced as much volatility as its economy. Once a top-ten economic contender in the world, Argentina has historically competed with its agricultural export sectors in international markets. Due to a growing lack of faith in Argentina by international capitalists, the country has fallen victim to their most-powerful creditors. This paper will examine the historical, economic, and political development of Argentina as well as the alleged causes and effects of their financial crises. The Argentine economy was developed as a staples-export hinterland, especially under the convertible exchange-rate years, and has been subjected to years of legal uncertainty due to lengthy litigation which ultimately caused Argentina’s second sovereign debt-default in under two decades.

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From What I Understand, Canada Needs a Universal Right to a Minimum Income

Canada Needs a Universal Right to a Minimum Income

 

Table of Contents

Historical Development of Public-Assistance Programs______________________________

The Scope of the Definition of Poverty____________________________________________

Poverty and Negative Social Implications_________________________________________

Is Financial Security a Part of Human Dignity?____________________________________

The Economics of Poverty: It’s Just Not Working…_________________________________

Canadian Trends: Even A Dual-Income Household Doesn’t Preclude Poverty______

Canadian Welfare: The Last Door to Knock on_____________________________________

A Framework for Forwarding Progress____________________________________________

A Case for Human Rights Discrimination__________________________________________

 

“Failure to tackle the poverty and exclusion facing millions of families and their children is not only socially reprehensible, but will also weigh heavily on countries’ capacity to sustain economic growth in the future.”[1]

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A Macro Perspective of Canada’s National Security Review of Foreign Investment: Considering Sustainable Economic Security

This paper will examine the legal, political, and economic implications of the Canadian government’s use of the foreign investment national security review powers provided to the Governor in Council (federal cabinet), and the Minister of Innovation, Science and Economic Development (ISED), in consultation with the Minister of Public Safety.

Beginning with a quick overview of the paired foreign investment review tests, an examination of domestic financial policies, as well as international trade and economics are followed to offer deeper perspective on the development of Canadian policies. A breakdown of the national security review powers is read in the light of Canada’s position in the global economy, to reveal flaws in the embodiment of the Investment Canada Act[1] (ICA) which could be putting Canada’s national economic security and sovereignty at risk.

Recommendations are made to include a more weighted consideration of sovereignty and economic independence, and formalize review behaviour, under the ICA’s national security review powers. The goal of this paper is to broadly examine perspectives related to integrating elements of economic security into Canada’s definition of ‘national security’.

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Canada: Constitutional Colonialism & the Capitalist Catastrophe

Abstract

This paper will identify how the development of the legal system in Canada, specifically the Constitution, has influenced Canada’s economy. This theory was developed in response to a general misunderstanding behind the fundamental reasons for the division of powers, and their subsequent influence on Canada’s economy. By examining Canada’s economic history through the “Staples Thesis” developed by Harold Innis, and extending the analysis through the complimentary paradigm of critical legal geography using “nomospheric” perspectives, we discover areas of inequality which have been created and maintained due to the unequal power relationships entrenched in Canada’s constitutions. In its entirety, the paper will demonstrate how Canada as a geographically-bound country, cannot be separated from Canada as a legal authority, which cannot be separated from Canada as an international capitalist economy. In application, Canada’s legal system continues to increase inequality amongst its citizens due to the socio-economic rigidities created through inefficient economic policymaking as constrained by the legal-spatial provisions in the constitution.

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Part 3/3: Education in Canada Must Have A Purpose

The first article in this series outlined the big picture view of our current education system in Canada. The second examined various methods in which to view the value of higher education. This final article will further expand on higher education in Canada, and offer an analysis of the future.

Following the post-WW2 expansion, in the 1990s we experienced political parties who have stuck with some policies while eliminating others due to the influence of the ebbs and flows of our economy’s surpluses and deficits (or whichever lobbying group had the most influence at the time). Canadians elected leaders, both liberal and conservative, that drove neoliberal policy down our throats; they were simply following in the “success” of our neighbours and allies. Neoliberalism is a term used to describe the ideology that a government is better off by reducing its expenses by privatizing its services and allowing the private sector to exist with only minimal government restrictions. This ideology has resulted in such ‘achievements’ as the most recent banking sector collapse, the destruction of the automotive manufacturing sector, increased health and education expenses, the mess of transportation infrastructure that we see today, and so much more. By reducing the government’s expenses – i.e. by firing all of the people who were in charge of running a certain “unnecessary” department, citizens run the risk of falling into a trap. A citizen/voter is now unable to request certain immediate changes regarding an area of concern, or maybe our officials are unable to rectify a decision that will affect thousands of workers to lose their jobs. By allowing our government to relinquish their control, we (as citizens) benefit by reducing the taxes we have to spend, however we are allowing profit makers to have free reign over their consumers, which blurs the distinction of who is really making the important decisions for our country. Read More

Part 2/3: Education in Canada Has Been a Heated Issue

Written by Stephen Armstrong.

Higher Education in Canada has been something of a heated issue in recent times as the cost of tuition has risen drastically since the 1990s, and cash strapped provincial governments are increasingly hesitant to fund institutions which are not producing enough graduates in high demand areas of the economy.

Universities have faced criticism from politicians, graduates, and the public alike for producing graduates who are often unable to find work in their fields of study. The defenders of Higher Education often phrase their counter-arguments in the same language of jobs, employment, and skills, often pointing out that BA grads learn a very broad and very employable set of skills which employers are not recognizing (research, written and oral communication, etc..). Read More

Part 1/3: From What I Understand, Canadian Education Needs To Focus More On What We’re Learning, Not How We’ll Use It.

This is the first article of a 3 part series, the second article of which was written by my colleague Stephen Armstrong, focusing on the current situation of education in Canada.

At the end of 2011, Canada was ranked number one when it comes to university and college enrolments, but we are also number one in the number of people with university degrees that live in poverty. Critics may pass this off as an after-effect of the 2008 recession, however even before the economic downturn, the 2006 census showed that as many as one-quarter of young people with bachelor’s degrees were holding down jobs that did not require one. These are terrifying statistics that highlight important issues within the Canadian education system, but first I would like to guide you through the journey of the institutionalization of how we learn, and further, how this affects our country as a whole. Read More

Clark's Sector Model

From What I Understand, Canada Is Not A Developing Economy, and Should Not Be Operated As Such.

Having lived in two provinces, abroad for two years and travelling to 11 countries, I am able to speak about Canada from both a global and domestic perspective. Canada is a relatively new country on the world’s map. Being isolated from Europe and Asia, and being so new, we have had to make many mistakes in our short past in order to learn, understand, change, and improve ourselves to reach the accomplishments we have made today. Presently we are viewed worldwide as a successful country and economy, however this does not mean that we must neglect to reflect on our choices, understand why they have been made, and make the necessary adjustments to further improve our society as a whole. This must be done efficiently and constantly in order to avoid stagnation, becoming set in our beliefs, and repeating past mistakes. Read More

From What I Understand, Middle-Class Jobs Are Being Seriously Threatened

If you’re aged 15 or 50, if you work in retail, restaurants or really anything considered a “middle-class” job – you need to start panicking, like now…

You might be asking why, and here’s the long answer… The really long answer.

Our economy dictates that corporations, especially public ones, need to put shareholders first. This basically means that if a company isn’t trying to increase their stock price, or their income, then they run the risk of failure. This inherent drive to constantly and consistently increase profits, combined with the advancements we are making with technology, means that any job that is capable of being replaced with an iPad, will be (or the company will probably cease to exist). You might scoff at the notion that your barista, or your regular server, or your box-office ticket salesperson could ever be replaced by a touchscreen, but if you look hard enough you’ll begin to realize that this is already happening everywhere. Cineplex Odeon greets their guests with rows of touchscreen ticket booths, stores everywhere are creating self check-out lanes, and some restaurants even have conveyor belts that bring your food right to your table (after you order from your iPad of course).  As technology becomes cheaper and minimum wages begin to increase, corporations will increasingly take advantage of these small investments to essentially remove the increasing costs of paying wages to humans – reducing their expenses, thereby increasing their profits and keeping their wealthy investors happy.

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