Investment in Canada seems pretty incoherent generally. On one hand, the government goes out subsidizing foreign corporations to come invest here, while government agencies like CPPIB take dollars out of our paycheques to build schools in Brazil and malls in India. OMERS loses a cool billion in the ridiculous Thames Water wealth extraction scheme, all supported by another billion from EDC.
It seems like we have a bunch of rogue bankers running our national investment strategy; always looking for the kinds of financial deals that make number go up in a narrowly focused spreadsheet, but ignorant of how to build a productive national economy. And the politicians and policymakers seem to think that’s just fine because the bankers are “experts” and must be left alone to do their work with no oversight.
The financialization of the economy, here in Canada but elsewhere too, is a massive problem. As you say, it has a real corrosive effect that does little to build a productive, sustainable, and resilient economy.
Investment in Canada seems pretty incoherent generally. On one hand, the government goes out subsidizing foreign corporations to come invest here, while government agencies like CPPIB take dollars out of our paycheques to build schools in Brazil and malls in India. OMERS loses a cool billion in the ridiculous Thames Water wealth extraction scheme, all supported by another billion from EDC.
It seems like we have a bunch of rogue bankers running our national investment strategy; always looking for the kinds of financial deals that make number go up in a narrowly focused spreadsheet, but ignorant of how to build a productive national economy. And the politicians and policymakers seem to think that’s just fine because the bankers are “experts” and must be left alone to do their work with no oversight.
The financialization of the economy, here in Canada but elsewhere too, is a massive problem. As you say, it has a real corrosive effect that does little to build a productive, sustainable, and resilient economy.