Committed to Canadian capitalism.
November 30, 2010 Leave a comment
Here at Canadian Market Review, we believe the world changed in 2008. Now, the global economy is in the midst of a crisis that has see century-old financial firms and sovereign nations alike go bankrupt. Our position is that this crisis is really only beginning to unfold. We want to better understand the implications for Canada as this happens.
Canadian Market Review is meant to be an information service only, not an investment advisor. You will lose all your money making investment decisions based on something you read on some website. Instead, read Canadian Market Review to get a Canadian, “hardcore” free-market capitalist perspective on the complex world of economics and finance.
When we say hardcore, we mean it. On economics, our closest alignment would be the Misesian–Rothbardian branch of the Austrian school of economics. On politics, we are Hoppean. We support capitalism — private ownership of the means of production. But we take this position to its logical conclusion. We do not accept the myth of Canada and other western democracies that private ownership and markets are fine for some things, but not “really important” things like healthcare or schools. Instead, capitalism — like truth — is best when pure. Capitalism, a social order based on private property and markets, is the harmony of people working together, communicating and exchanging. It is natural, efficient, and just.
Government interference with markets, i.e. socialism, is unnecessary and destructive to wealth, without exception. The market allocates resources to serve consumers. When there is government intervention, resources are allocated based on political decision-making. These are distortions in the market that do not serve consumers. There is taxation, regulation, and inflation. There are boom-and-bust cycles and wars.
These positions might be deemed “extreme right-wing” in regular Canadian political parlance. Canadian Market Review rejects this distinction as shallow and pedantic. For principled commitment to capitalism must reject any government interventions favored by the “right” as much as it does those on the “left.”
Many Canadians are absolutely convinced that government intervention is fundamentally good. We are not writing for these sorts of people. But for those who see something wrong with this position, Canadian Market Review will provide a valuable alternative view.