Why the things we take for granted could be keys to innovation

Organizational cultures are ripe for change when the familiar starts to seem odd

Why the things we take for granted could be keys to innovationImagine having never seen a handshake. You would know nothing of the different levels of importance and intimacy, when it should be done, what’s happening during the shake and even whether you can learn something from the shake itself. Trying to learn about it all at once would be akin to learning a new language.…

How ordinary people can survive the worst of capitalism

We’re the 99 per cent and the one per cent is powerless without our co-operation

How ordinary people can survive the worst of capitalismAs we move into a new year, we see many problems in the world and much that needs to change. We often forget, however, that the most significant force for good looks back at us each time we gaze into the mirror. We live in a capitalist society, and capitalism has brought us many good…

Two cheers for capitalism, despite its inherent vulnerability

It may seem prosaic and uninspiring but it does deliver the goods - prosperity and personal liberty

Two cheers for capitalism, despite its inherent vulnerabilityAs part of its recent Capitalist Manifesto series, the National Post had several of its columnists identify 10 essential books on the topic. The selections included offerings from Milton Friedman, Friedrich Hayek, Deirdre McCloskey and Matt Ridley, all of whom are worth reading. But I was struck by an omission. Published in 1978, Irving Kristol’s…

More capitalism leads to less discrimination

Discrimination is actually less pervasive in more competitive industries

More capitalism leads to less discriminationOne of the favourite myths peddled by proponents of government control is that under the free-market system discrimination is rife and leads to unfair outcomes for minorities, women, and other groups. Thus, they say, we need government regulation to correct this unfairness and equalize outcomes. The myth persists despite having been repeatedly debunked over decades,…

Time for corporate Canada to abandon immoral capitalism

We have a major opportunity to reframe the roles and responsibilities of corporate stewardship

Time for corporate Canada to abandon immoral capitalismIn 1970, Novel laureate Milton Friedman proposed that an enterprise’s sole responsibility was to shareholders by maximizing profits: “the social mission of business is making profits, period, with other social goals best left to politics.” Corporate duty to maximize shareholder value, or shareholder primacy, has emerged as the dominant principle for free-market capitalism. This capitalist…

To share wealth you first have to create it

MacKenzie Scott's fuzzy criticisms of capitalism

To share wealth you first have to create itBy Bradley Doucet and Miguel Ouellette Montreal Economic Institute Allow us to join in the chorus of praise for the charitable giving of MacKenzie Scott, the ex-wife of Amazon founder Jeff Bezos, who announced last month that she had given away another $2,739,000,000 to 286 organizations. Private philanthropy is part of what makes the world…

The benefits from Big Pharma more obvious than ever

Why are we biting the hand that saved us?

The benefits from Big Pharma more obvious than everFor some people, no good deed deserves to be rewarded – at least not by making a profit, which they treat as if it were a dirty word. Even saving millions of lives, as pharmaceutical companies have undoubtedly done by delivering safe and effective COVID-19 vaccines to market in record time, is no excuse for…

Let charities care for the needy in society

Governments inevitably make a mess of social welfare programs, wasting money, discouraging work and encouraging dependence

Let charities care for the needy in societyLong before the COVID-19 recession, the generosity of Canadians, measured by charitable donations, was already steadily falling. From 2008 to 2018, the percentage of tax-filers donating to charity fell from 24.1 per cent to 19.4 per cent. And the percentage of aggregate income donated to charity fell from 0.62 per cent to 0.54 per cent.…

Pandemic exposes weaknesses of government intervention

The response of governments was heavy-handed, lead-footed, wrong-headed and inept

Pandemic exposes weaknesses of government intervention2020 forever will be associated with the coronavirus sweeping Canada and the world. However, its impact on the economy was much greater than on our health. Far fewer people were stricken by the virus than the initial apocalyptic warnings from health care experts, while its impact on incomes, jobs and government deficits was larger and…

What happens when capitalism lacks a soul?

Corporations have created a structure that’s unsustainable on political, economic, environmental and even spiritual levels

What happens when capitalism lacks a soul?In recent decades across the globe, the super rich have been getting richer while the middle class shrinks. This is a danger not only to our economy but to democracy itself. Unfortunately, while millions of people have lost their livelihoods during the COVID-19 pandemic, the richest of the super rich have seen their assets balloon.…
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