Economic Reflections:
Cretinism, the Threat of Tobinism and Old Joe Who

Nipawin - February 24, 2001 - by: Mario deSantis


Our economic, political and business leadership have been playing the gimmick that social
and economic growth can occur solely by invoking conventional macroeconomic theories.
That is, for instance, by playing with taxes, by playing with the balancing of governmental
budgets, by playing with the reduction of governmental debt, by fighting inflation, by
playing with interest rates. The isolated implementation of these economic theories,
irrespective of our social growth, have caused very little economic growth in the last two
decades, and at the same time the country's political and social texture has eroded with the
consequences that we have a divided Canada, geographically, politically, socially, and




At the same time, as we have experienced a negative economic growth in the last decade(1),
so our governmental leadership has weakened with the consequences that we have a
Prime Minister who practices business development plans with his criminal friends(2), and
a government marred by an administrative nightmare where paternalism and fraternity's
loyalties take over entrepreneurial independence and public service(3).




The gimmick of our leadership to maintain an oligarchic, paternalistic and fraternal social
and economic growth has to end. The gimmick to have capitalism versus socialism has to
end, and the gimmick to have the World Trade Organization as the only leverage for
economic growth has to end as well.



to serve
the people

Our governments must go back to what they were designed for, that is to serve the people
and not to serve themselves and the big multinational conglomerates. The gimmick to have
smaller governments while encouraging international mega mergers of multinational
conglomerates must end as well. We can grow economically and socially irrespective of
the different degree of taxation or size of government of any country, the common
denominator being our willingness to be entrepreneurial, individually and collectively(4).




Our political and business leaders have been trumpeting an economic growth across
Canada in the last decade, and they have been using phony GDP indicators to support
this growth, while in fact we have shown in our writing that this economic growth has
not occurred and that social inequality has increased with the consequential establishment
of a social system for the benefit of the 'Few and Privileged(5).'




Our conventional GDP indicators are grossly inadequate to evaluate our well being and
we need a new economic language to support our social and economic growth. This new
language should be used by our political, business and academic leadership.




It is commendable to mention the work of Canadian economist Lars Osberg(6) who has
been developing an index for measuring the well being of our social and economic
system(7). In particular, Osberg's index includes the measuring of
i) per capita consumption flow of goods and services,
ii) the economic resources to sustain our social growth, and
iii) our level of poverty and social insecurity.
It is worthwhile letting our past Saskatchewan Premier Roy Romanow and Prime Minister
Jean Chrétien know that our Canadian well being has deteriorated significantly in the 1990s;
in fact, our well being has deteriorated by a whopping 10% in this period. This deterioration
of our social system has occurred under Jean Chrétien, and now this Prime Minister wants
to be in power for another third mandate of Cretinism, and if he can't survive this mandate,
then he will push for a new Canadian political era of Tobinism(8).




Old Joe Who, come to our rescue please?
  List of relevant political and economics articles


Sharing the Wealth from Growth: Comparing the Canadian and U.S. Experiences, Jack Mintz C.D. Howe Institute / University of Toronto & Shay Aba C.D. Howe Institute, Conférence IRPP-CSLS Conference, January 26-27 th , 2001 Chateau Laurier Hotel, Ottawa, Ontario


Prime Minister Jean Chretien's involvement with the BDC's $615,000 loan: Lack of Common Sense Democracy, by Mario deSantis, December 1, 2000


Office of the Auditor General of Canada, Reports and Publications


IRPP-CSLS Conference on Economic Growth and Inequality, Château Laurier Hotel, Ottawa, Ontario, January 26-27, 2001


A World for the Few and Privileged in Saskatchewan, by Mario deSantis, February 18, 2000


Lars Osberg, Ph.D, McCulloch Professor of Economics, Dalhousie University


An Index of Economic Well-being for Canada - with Andrew Sharpe, Lars Osberg, October 1998


Tobinism and Additional Rules of Law, by Mario deSantis, February 10, 2001