Before you read this, may I point out that one man's "corporatism" is another man's fascism! They are closely related kin, opposite sides of the same coin. - Abe.
There will come a time when ... leftism ... will be forced to acknowledge the disastrous consequences of their thinking. For decades the left has railed against the tyrannical power of corporations over our political and economic systems ... They call it “corporate capture,” whereby corporations ... allegedly control and manipulate governments to corporate advantage ...
The economic policy decisions ... of the Biden and Trudeau administrations ... creates new forms of corporate capture that run far deeper into the economy ... As Biden said when he laid out his Buy American plans in 2020, it is “way past time to put an end to shareholder capitalism.” ...
“Industrial policy is ... the push for Canada to win on the green economy.” Behind the industrial policy push ... are bands of left-leaning green activists and institutions motivated by radical neo-Marxist theorists...
The left ... claims that the old shareholder version of the corporation espoused by the late Nobel economist Milton Friedman can be ... replaced by a new version of corporate governance known as “The Erb Principles for Corporate Political Responsibility... from corporate “social” responsibility to corporate “political” responsibility ... Installing unelected corporate executives as the explicit partners of bureaucrats and politicians ... In his classic 1970 essay on the role of corporations, Friedman warned that once variations on corporatism are implanted “the external forces that curb the market will ... be the iron fist of government bureaucrats.”
Read Terence Corcoran's insightful article in full at the Financial Times, Here.
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