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5 replies

Maeve
kbin.earth

One hundred of the world’s most powerful investment funds, controlling about $120 trillion between them, will be sending top executives to Toronto this September. There, they will attend a summit where Mark Carney will pitch “Canada, Inc.” to them in a bid to rustle up $500 billion in investment for major projects and reverse the catastrophic outflow of capital that Canada has experienced in the recent period.

Discussing the summit when it was announced back in April, Finance Minister François-Philippe Champagne explained, “There’s a lot of interest around Canada. So, now this summit is really about: How do you transform interest into projects and catalyze the momentum that we see?”

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BeBopALouie
lemmy.ca

I don’t know anything about that stuff, I am sure many others too. But do you know who does? Carney. Let him have his party and help out Canada hopefully.

2
patatasreply
sh.itjust.works

Economics is not a science.

Economics is ideological.

The type of economics one espouses depends on and promotes a particular worldview.

In Carney's case, it's a worldview that presupposes that anyone with money should be able to extract as many resources, and as much value, from our planet and society as they can, while they can.

That's why he is calling up folks in charge of trillions of dollars to try and sell them anything and everything that can be dug out of the ground.

But this is all completely unsustainable, both environmentally and politically.

So, does Carney "know more about this stuff"? In a sense, yes, because he is well-versed in how to facilitate that extraction, even though it leads to increasing instability.

But is his economics/ideology good for the world? I'd argue no.

1
ThuggyGreply
piefed.ca

I would argue increasing investment in Canada at a time when we’re economically distressed is a pertinent move that would produce a net positive for Canada when you consider the alternative.

I would happily condemn such behaviour in more fruitful times when we had the capacity to place greater value on higher level needs. However, in our current circumstance we have to make difficult choices.

Stealing bread to feed your family is still stealing, but it’s most definitely in the grey area or morality.

4
BeBopALouiereply
lemmy.ca

Sadly there is no one on the planet that will not extract these resources. One may argue that at least it would be Canadian businesses doing said extractions for Canadian benefit.

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