Canada: losing energy


Michael Roberts Blog

So Justin, the son of the former Liberal PM of the 1970s, Pierre Trudeau, has triumphed in Canada’s general election.  The Liberal party came from behind to sweep into an outright majority victory, removing the incumbent Conservative government that had been in office for nearly ten years under Stephen Harper.

The third party, the New Democrats, similar to the British Labour party, which had been ahead in the polls at the start of the long 79-day election campaign, eventually fell back to a poor third.  The reason, it seems, is that the Liberals decided to adopt an anti-austerity programme, advocating budget deficits (not large though), improved minimum wages and an infrastructure investment plan, in opposition to the neo-liberal polices of the Conservatives.  The Liberals stole the NDP policies and romped to victory.

Justin Trudeau though faces a difficult task economically.  Canadian capitalism has been a relative success story, based on its…

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