Myth of Powerlessness :: essays research papers fc

Linda McQuaigs book, The Cult of Impotence Selling the Myth of Powerlessness in the Global Economy, is a refreshing new approach to heaping the current invoke of global economy and Canadas place in it. In recent years, such mysterious terms as fiscal deficits, natural rate of unemployment, dividing line market fluctuations, interest rate cuts and zero inflation and so on, have received an exceptional level of public consideration. Nevertheless, in spite of the now by and large acceptable importance of the terms, their meaning an the effects of the domestic economic policies is left for the professional economists to analyze and present the public, as well as nations governing bodies with a list of remedies. Their guiding logic and principles are rarely questioned and more rarely fully understood. In such an environment, McQuaig has earned a liberal audience for her writings by stripping away the aura of complexity from controversial economic issues and making them accessible an d relevant to a general audience. challenge the opinions of the experts, she is trying to bring back the debatable economic policies of the global age to democratic accountability.McQuaig is a notable journalist and a writer, who has written a modus operandi of books on the state of affairs that Canadas economy is. Unlike her previous books that she has written ,discussing deficit reduction and cuts to social programs among others, this time she drifted away from the specifics and focused on our general view and acceptance of the economic processes. In the book, she attacks nations policy-making passivity and acceptance of the believed fact that the domestic economy fully depends on the global market situation and that is should follow the trends. Trapped in this view, governments act as a victims to the global economic process and accepts an its people and impose this view on the electorate.Canadas economic troubles is not unique. Although, Canada is enjoying a period of relativ e economic growth, and the level of unemployment is at its lowest level since April 1976 at 6.8% in January 2001 (Tam). However, these 6.8% legato mean 1.1 million people jobless. McQuaig argues that combating the unemployment should be the number one national economic policy, at times at the expense of the corporate and governmental fiscal institutions and currency speculators. The fiscal conservatism of Bank of Canada under Gordon Thiessen, the banks governor, and anti-inflationism which have become, it seems, the ide fixe for most state financiers became a source of tremendous political apathy, hindering the capacity of elected officials to carry through on their more progressive and egalitarian campaign promises.