Economic growth is responsible for unprecedented improvements in billions of people\u0027s lives. Now global progressives want it to stop. Read on.
What makes the attack on growth both bizarre and indefensible is that growth is what enabled the unprecedented improvement in prosperity, elimination of grinding poverty and advances in health, longevity, education and personal agency for the great mass of people in those countries that since the Industrial Revolution have encouraged or at least permitted it.
The current federal government does not overtly advocate for de-growth or limited growth, which would be hard to market to even to its progressive base, let alone the broader public.
There are also its ideologically driven policies, including hostility to development of natural resources, especially energy, and its mind-boggling subsidies to favoured sectors and projects, such as batteries to power e-cars. Diversity, equity and inclusion policies prioritize racial and other group identities over considerations of merit. The move to ESG — in effect, from shareholder capitalism to “stakeholder” capitalism — undermines an efficient and productive free-market system.
Prime Minister Justin Trudeau’s allusion to Canada as the first “post-national” country reveals a mindset more in line with Davos’ Klaus Schwab than the average Canadian, who is proud of his or her country. National planning by big-government bureaucrats has failed everywhere it has been tried, while international planning by interventionists working in multilateral organizations is, if anything, even worse, far removed as it is from the reality of local economies.
Reasonable people are tired of pessimistic and divisive hectoring from our betters, urging us to sacrifice more and settle for less. Increasing numbers of us may well be ready for the recently unfashionable but nevertheless enduring promise of free markets and human ingenuity. GDP per capita is perhaps the best single proxy for measuring how people are doing economically. By that measure, as economist Trevor Tombe has pointed out, Ontario per capita GDP is now roughly equal to Alabama’s.
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