Posts Tagged ‘capitalism’

As pandemic restrictions ease, Canada should replace its capitalist system with a Scandinavian-style alternative..

May 13, 2020

In such a ruthless capitalist system:

  • Extracting and selling global-warming fossil fuels is profitable.
  • Pillaging non-renewable resources is profitable.
  • Deforestation is profitable.
  • War, and the manufacture of tanks, warships and military hardware is profitable.
  • Offshore tax havens are profitable.
  • Poverty and inequality are profitable, at least for the millionaires and billionaires.
  • Ill-health is profitable for the big pharmaceutical companies.
  • Hooking kids on junk food is profitable.
  • Low wages and unsafe workplaces are profitable.
  • Purchasing politicians is very profitable.

Capitalism worst possible economic system for a planet ravaged by climate change..

February 20, 2019

Twenty years ago, I wrote an op-ed in which I described free-market capitalism as “the most unjust and barbaric economic system ever devised, and one that now oppresses and abuses most of the world’s people.” I was scorned and vilified by neoliberal pundits, and even chided by some progressives who thought that calling the dominant economic system “barbaric” was going too far.

Confronting climate change means challenging capitalism..

September 12, 2018

While it is not often named in the mainstream media, the economic system that we live (and die) under has a name: it is called capitalism.

There’s also a strong argument that capitalism is inextricably linked to the existential crisis of our time and that we must push for a profound economic transformation while there is still time to avoid catastrophic climate disruption.

Canada’s Household Debt Crisis: Blame Capitalism!

January 29, 2017

Canadian capitalism is in crisis, with household debt reaching a record high 166.9 per cent of disposable income and about 208 per cent of GDP, and wage stagnation is a primary cause.

Richard Vague told the Globe and Mail “any country whose private-debt-to-GDP ratio goes beyond 150 per cent and that has a five-year growth rate of 18 per cent or greater in that ratio experiences a financial crisis at some point.” The Globe says Canada has already passed both benchmarks in its ongoing borrowing binge.

Twenty-first Century “Canadian” Corporate Capitalism is Quite the Racket

June 27, 2016

Built with public subsidies, a Montréal firm can shift its ‘head office’ to a tax haven and workforce abroad, but Ottawa will continue to use its diplomatic, economic and military might to advance the company’s reactionary international interests.

As part of its coverage of the Panama Papers, the Toronto Star recently reported that Gildan Activewear paid only a 2.8% tax rate on more than $1.3 billion US in declared income the last five years and it’s unclear if any of the apparel company’s measly $38 million in tax was paid in Canada.

Twenty-first Century “Canadian” Corporate Capitalism is Quite the Racket

Capitalism as it Really Exists

June 3, 2013