"Disaster capitalism" in action
At a time of outlandish conspiracy theories and overheated political rhetoric, our era's most outrageous crime is happening in broad daylight. The pandemic is a planetary emergency, but it has also become a cover for unprecedented corporate profiteering.
Canada's top 100 CEOs are being paid an average of $10.9 million -- each. This is according to the Ottawa research institute CCPA. Corporate domination of Canadian politics creates this benefit. Corporate profits have recovered far faster and captured more economic gains than in any recent post-recession period. Meanwhile wages have fallen even further behind inflation. This is "'greedflation"!
The old right-wing myths about inflation, especially blaming employed people, are back in the media, especially more calls for government austerity and neoliberalism to "solve" it. CCPA studies show this will cause more harm. There are plenty of alternative proposals on the table, but they require our struggle for them against government inaction and the political parties' wilful support of this out-of-control corporate inflation. (Letter heavily abridged)
Erica Shaker, Canadian Centre for Policy Alternatives (CCPA)