An Introduction to Neoliberalism

An Introduction to Neoliberalism


Stop NeoThere is an ideology that has directed the elite of Canada: the bank and corporation CEOs, the provincial and federal governments, and the market financiers, for the past 30 years.  It is the belief that if the banks, corporations and market are allowed to do as they please, then everyone will benefit.

It is a false belief, a lie.  The giving of more power to the banks, corporations and markets has only benefited themselves, their CEOs who are paid millions, upper management and shareholders.  It has not benefited the rest of us.  Today, even the shareholders suffer.

This ideology has produced an extremely unequal country, huge household and student debts, unemployment, low paying jobs and a decline in democracy.  Globally, it has produced the present economic crisis.

Here are some facts.  In one day the average CEO will pocket $44,366, the amount the average Canadian earns in a year.   In 2010 Canada’s 100 best-paid CEOs saw their pay jump 27%, whereas wage increases for all union workers in 2010 were only 1.8%.  The amount rich Canadians pay in taxes continues to go down.  Anyone who made nearly $4 million a year paid 47% in tax in 1975, but only 33% today.  In 1972 the  top corporation tax rate was 52%, now the combined provincial and federal rate is about 25%.   Yet they have moved thousands of jobs out of Canada and sit on billions.

Unfortunately, this destructive ideology has been the guiding light of our governments for the past 30 years.  They have been working for the corporations,images banks and markets, while claiming to work for us.  With the Harper government we see this ideology in full bloom.   Provincially, the PC party is also on board as its new legislative proposal is designed to weaken unions, the main political force fighting this false ideology.   The provincial Liberals needed a push from the NDP to stop their corporate tax breaks.

This ideology and its followers are our real enemy.  Officially, it is known as economic neoliberalism, a return to the days of the uncontrolled robber barons.   Some call it uncontrolled capitalism.   All the corporate tax breaks, free trade deals like NAFTA, CETA & TPP, social program cuts and tax free accounts, etc., are just ways in which our federal government, led by this ideology, allows corporations to rule Canada at our expense.  Harper’s trade deals are transfers of power from people to corporations.  The under-the-table Canada-China Foreign Investment Promotion and Protection Act (FIPPA) is the latest, putting us at the mercy of corporations, and this time a Chinese state-controlled corporations.