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Already posted on Universities' corporate temptation: (Oldest first)
From: Richard Priestman - Posted: 28-Feb-11 - 11:57
Linda McQuaig zeros in on the effect of corporate money on our universities. The influence of people with money affects not only university policy decisions, but government as well. Prime Minister Harper consults with the Canadian Council of Chief Executives and the Canadian Chamber of Commerce, but when did he last consult with the Canadian Centre for Policy Alternatives or the Committee on Monetary and Economic Reform?
Deep government funding cuts have made it necessary for universities to look elsewhere for money. We canât fault the universities for doing that, but we can certainly fault the government for reducing its funding grants while continuing to pay $30-billion a year ($82-million a day) on unnecessary public debt interest. (This is just the interest paid by the federal government. In 2009 total interest on federal, provincial and municipal debt amounted to $160-million per day.) The government could borrow funds to invest in universities from the Bank of Canada at zero cost. By failing to use the Bank as it should have for the past 30 years our federal governments have instituted a process of upward flow of money â the reverse of trickle down economics. Huge debts have accumulated, the federal net debt amounting to $525-billion on 31/3/09. When you owe that much itâs not so hard to choose between the wants of your creditors and the needs of ordinary Canadians.
To pay the interest the government takes our money and gives it to the banks and other wealthy corporations and individuals. This leads to inequality in our society where those who have get more. This can be changed if we elect federal politicians who support using the Bank of Canada to finance public debt for investment in public services and infrastructure and reinstating the statutory reserves to control inflation. Unfortunately, none of the parties currently holding seats in Parliament will talk about this. Itâs essential to get people in Parliament who are committed to this and if none of the party representatives will support it then we must find independent candidates who will.
I would like to see Linda McQuaig and others write about this.
Richard Priestman Committee on Monetary and Economic Reform Kingston Chapter
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