industrial policy

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Federal government’s 'industrial policy' creates all the wrong incentives

Economic decision-making should be dispersed among individuals, not centralized.


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Back in late 2011 after the Occupy Wall Street protests, Fiat-Chrysler CEO Sergio Marchionne gave a speech in Toronto to decry what he called "the most inane displays of greed." The reference was to behaviour he had observed while serving on various company boards over the years.


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Canadians who don’t regularly track how governments spend money might be surprised to find how myths crop up about government expenditures. Exhibit A is a new report that claims Canada needs even more “industrial policy,” academic lingo for subsidies to business, and this as if governments had not already long practised such policy, and at a considerable cost to taxpayers.