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Jim Balsillie is a businessman and philanthropist. He is a founder and chair of several organizations whose mandates are to build capacity for a stronger Canada.
As economic strategies go, Liberal Leader Mark Carney is the ultimate confidence man. He wants to tax what Canada exports and subsidize what we import. Judging by the poll numbers, many Canadians are somehow persuaded this will lead us to prosperity.
As a candidate for the leadership of the Liberal Party, he pitched himself as an outsider and an unconventional politician who will focus on “getting our economy back on track” – an outsider who’d advised the Liberal government since 2020, during which time Canada’s per capita GDP has been shrinking 0.4 per cent a year, the worst performance amongst the top 50 developed economies, and eventually became the chair of Justin Trudeau’s 2024 Task Force on Economic Growth.
And in true confidence man-style, he wrote a book about 21st century economic governance, Value(s), that is full of outdated, conventional economic theories rooted in the 1970s – an economy we no longer live in. Whether it’s his perspectives on incentives, investment, climate strategies or productivity, Mr. Carney’s economic proposals to date represent the very establishment that has for the past 30 years peddled ossified and distorted ideas about the economy that manifested a systemic erosion of Canada’s prosperity.
For the rest of this column: https://www.theglobeandmail.com/opinion/article-mark-carney-will-not-make-canada-more-prosperous/