As Terence Corcoran notes, it’s no longer debatable that the productivity of the Canadian economy has taken a beating recently. The problem is that most analysts seem to believe that the problems arose from too little government oversight over the economy, not too much.
Faced with the medical pandemic, Ottawa ordered unprecedented social and economic closures to “flatten the curve” of contagion. To offset the inevitable economic decline, government spending soared and the Bank of Canada unleashed a major monetary expansion, claiming at the time that it could do so with minimal inflationary disruption. The Bank was wrong.
In Road to Freedom, Stiglitz argues that post-pandemic shortages, inflation and unemployment were the product of free-market failure rather than state interventions and bungled monetary policy. When COVID struck, everyone turned to the government to save the economy “and it worked remarkably well.” Therefore, he says, we need more government. “It wasn’t a one-time thing,” he claims. “As the world faces the existential crisis of climate change, there is no alternative but government action.”
So Stiglitz is brain dead and at Colombia University. That’s all that means.
Oh, oh, govern me harder daddy.
Got the T-shirt, wore it during a trucker convoy rally.
One at a time, if we don’t back them into a corner, the duped are beginning to realise that Canada is in a bad way for no obvious reason other than governments. The problem is, too many of those who now see the light dimly will jump back into dupedom as soon as another pack of lies issues from the Canadian media arm of the Globalist project. Yes, our governments are puppets .. who doesn’t see that?
The faster the Dominion of Canada collapses, the better.
The morons are the reason Juthtin and Chrythia are able to spew their liquid shyte from coast to coast.
Someone needs to rid us of these epsilons.
Too much government at all levels.
Stiglitz is a proponent of Georgism, which says the government should tax land rent, but not labor. In theory it’s workable, but in practice it still has the same knowledge problem of all collectivist solutions.
https://en.wikipedia.org/wiki/Georgism
Someone should ask Stiglitz how canada went from a M1 money supply of $1.1 Trillion in Feb 2020 to $1.62 Trillion in July 2022, but didn’t involve much if any productive growth. Maybe he can come out in favor of Moron Money Theory as well.
“Stiglitz called for a tax on “excess” corporate profits, with the revenue used to alleviate some of the supply shortages.”
Corporations don’t pay taxes, they collect taxes from their customers on behalf of the government, include any taxes on “profit”, excess or otherwise.
Who is going to break their @$$ producing anything when the government just announced a 66% tax on capital gain, an additional 25% tax on fuel, and we already have the most expensive electricity in North America?
But this guy thinks the answer is -more- government intervention? Of course he does, he’s a Communist.
Idiots confuse communist with economist.
Far too many economists are confused idiots.
+++Buddy.
What’s goes around comes around.
Massive money supply happened between 1973 and 1976 too. Inflation and then very high interest rates followed. Guess who was the Canadian boss then.
Hang on.
Of course.. The people and political organizations who have done this, see no evil.. They have done rather well robbing us blind and no reason exists for them to repent.. Lose the election and retire in comfort..
Stiglitz lives in a dream world. He ascribes to “failure of the free market”. The only free market I know of is the underground economy. He favors a leviathan state that regulates and mandates everything and when things go wrong he invents a boogey man free market to blame for lack of mandates and regulations. “This time it will be different” is the mantra of the statist Jacobins and Bolsheviks who blame universal failure of central planning on “improper” central planning. That he is a functionary of the professoriate is no surprise. In a free market he would be serving lattes.
M2 is exploding again. Inflation round 2 will be really ugly.
He seems oddly proud of his beta stature. I bet he has a Satchel. FILTHY LIBERALS
increasing the money supply with no value added. isnt that page 1 of economics 101
Think about it, all this pandemonium arose out of non sense and apathy.
The people responsible are above the law, untouchable as they are inept.
And many Canadians carry on like its all a natural event .
When in reality they made themselves slaves and let’s not even think of their kids.
And the Suck hasn’t hit home yet.
All I can say myself is I don’t know if it’s the progs or the citizens that can’t bear to lift the blindfold, that are the worst .
But something is broken and it seems on purpose so ………
If you know you know .
“The crisis of climate change”. There is no crisis. Climate will be climate, no matter how much money you steal from us.
So … once again … socialism was the answer … but it just wasn’t done quite right. We all needed it BIGGER and HARDER
Nothing says “free market failure” like the men on horseback sent to close down Adam Skelly’s restaurant.
The author suffers from terminal craniorectal syndrome.
Thanks for the heads up commie… yeah sure… lets give this authoritarian psychopath even more power.
https://gab.com/DianeShears/posts/112413583738778626/media/1?timeline=video-clips
Every modern environmental disaster is the result of a government policy.