Assorted content for your Sunday reading.
- Frank Graves
recognizes that the dismal mood of young Canadians is based on the economic reality that the expected trend toward intergenerational progress has been reversed.
- Meanwhile, Jesse Myerson
discusses five policy proposals which would give younger citizens a far more fair chance at success than they currently hold. Ben Irwin
lists twenty elements of life in poverty which figure to be unfamiliar to anybody at higher income levels. And Dennis Raphael nicely
boils down the policy choices we face in addressing family poverty:
Research carried out by UNICEF points
out that those nations with the lowest child and family poverty rates
are, not surprisingly, those nations with the smallest proportion of
low-paid workers. Low-paid workers are much more common in nations where
the labour sector is weak, government does little to manage the economy
in the service of all, and public participation is less than the case
in other countries. They are also the nations with a system of
proportional representation that allows greater citizen input into the
election process. It is not only the Nordic nations that do well in
reducing child and family poverty. The Continental nations of Europe
also do far better than we do in Canada.
This analysis suggests that the best
means of reducing child and family poverty is to reduce the imbalances
in power and influence that exist among Canadians. The best — and
easiest way — to do this is to make it easier to organize workplaces,
increase the progressivity of income taxes, and assure that all members
of the population, regardless of their class status, have the benefits
and supports necessary to avoid poverty.
The recent history of public policy in
Canada has been to do the opposite. There have been sustained attacks on
organized labour, taxes have been reduced on the wealthy, and the
social safety net has been weakened.
- And Don Lenihan rightly
questions the corporate media's attempts to downplay the growing gap between the rich and the rest of us, while recognizing the most important influence on escalating executive wealth extraction:
CEOs’ high compensation also relies on a culture of collusion. Boards
of directors hire CEOs and set their compensation. But this has at
least as much to do with the collegial nature of the corporate executive
world as with markets. Boards are an elite professional club. To become
a member—most of whom are still men—people work hard to cultivate the
right connections, say the right things, dress properly and be
recognized as a “team player.” If not, they don’t get in—or at least
they don’t last. And therein lays the problem.
Many members sit on multiple boards and depend on this for a
substantial part of their income. The more robust the compensation
packages for CEOs, the more likely board members are to see their own
status and compensation enhanced. No one wants to upset the applecart.
On the contrary, there are very strong incentives to support the trend
to ever better packages, and serious risks for opposing it—even if one
thinks it is unnecessary or wrong.
“The market” provides the perfect alibi. It allows board members to
ascribe CEOs’ salaries to an impersonal calculus. They talk about the
remarkable skills and learning of CEOs, the small talent pool available
to run big organizations, the risk of losing such talent, and so on.
In a private moment, however, the same people can be surprisingly
candid about how becoming a successful CEO has less to do with
exceptional management skills than proper grooming, meticulous planning,
and a ruthless dedication to the goal.
- Finally, Chantal Hebert
suggests that Stephen Harper would be smart to say "no" to the Northern Gateway pipeline. But given his apparent lack of concern that Canada's top spy watchdog - responsible for overseeing agencies reported to have plotted with oil interests to spy on First Nations and environmental groups - is himself
lobbying on Enbridge's behalf, we can safely say that Harper isn't the least bit concerned with maintaining the appearance of intelligence or unbiased evaluation.