Private Affluence, Public Austerity: Economic Crisis & Democratic Malaise in Canada

Examining Canadian political and economic developments of the 21st century, this study analyzes the dynamics of Canadian politics in the era of neoliberal globalization. The survey contends that, although the last three decades of neoliberal rule are characterized by recurrent crises, the system has proven to be resilient—even in the face of a severe recession. Canada’s striking “business as usual” approach to the recent financial crisis is highlighted, arguing that it is failing to challenge the policies that are fundamental to the system and culpable for the crisis. Illustrating the legacy of the Canadian political system, this discussion encourages consideration of the relationship between neoliberalism and crisis as well as their role in democratic decline, prompting questions such as What is the legacy and the future of neoliberalism? and What role will Canada play in charting the course of that future? Offering an engaging exploration of the theories of contemporary capitalism, this investigation serves as a reminder that overcoming democratic malaise is a necessary first step on the path to change.