Increasing the Social Relevance of the Economy

Canada should:

  • Nationalize or take a controlling interest in any strategic manufacturing firm in Canada that can be repurposed in a green and socially relevant manner, beginning with the GM plant in Oshawa to produce made-in-Canada electric vehicles.
  • Identify other firms that would serve Canadian society better in public hands, beginning with natural monopolies such as transport, communications, energy and resources, and pharmaceuticals and medical equipment, and begin the process of taking them into public or some other socially responsible form of ownership.
  • Ensure the transformation of Canada’s financial sector on the model of public utility banking, focused on providing long-term ‘patient’ capital for financing production, nationally and locally, rather than short-term ‘fickle’ capital for speculation.
  • End the practice of bailing out speculating firms, a practice that has created too many moral hazards.
  • Work to reduce incomes deriving from ownership alone, and increase incomes from effort. This will also vastly increase income equality in Canada.
  • Ensure that all publicly-owned firms are in the forefront of R&D, keeping the Canadian economy on the technological frontier in many fields.
  • Impose a reclamation tax on all polluting and climate-warming enterprises, and use the proceeds to clean up that pollution and reduce global warming. This will generate a reclamation jobs boom.

Back to Platform