Thursday, March 13, 2025
How to Make Oligarchic Rule
"Humanitarian
and Democratic"
To Be Hinged or to Be Unhinged -- That Is the Question for Canada's New Prime Minister
Having published his book titled Value(s) -- Building a Better World for All in May 2021, Mark Carney has another one in the works called The Hinge -- Time to Build an Even Better Canada. It is scheduled for release on May 13.
Churchill's "Hinge of Fate"
The publisher's official summary of Carney's upcoming book explains that the title The Hinge takes inspiration from The Hinge of Fate by Winston Churchill, the darling of the Anglo-American world. Churchill used the title for the fourth in a four-part chronicle of WWII starting with the period from January 1942. In the 1951 preface to the book, Churchill writes: "I have called this volume The Hinge of Fate because in it we turn from almost uninterrupted disaster to almost unbroken success. For the first six months of this story all went ill; for the last six months everything went well. And this agreeable change continued to the end of the struggle."
Carney's rendering of going from "ill" to "well," "charts an ambitious and urgent path forward for Canada and the world as we collectively face a multitude of existential threats to our long-standing democratic traditions," his publishers write.
Carney refers to this turning point in history as a "hinge moment." A "hinge" is defined by Oxford Languages dictionary as a movable joint or mechanism on which a door, gate, or lid swings as it opens and closes or which connects linked objects. As an expression it means, to be determined or decided (by something), such as "everything hinges on the outcome of negotiations."
The reference by Carney to Churchill's title, besides other things, places his narrative squarely within the Anglo-American Cold War outlook imposed on the world by the U.S. and Britain after WWII. Anglo-American historiography revels in Cold War arrangements imposed by the U.S. on the world to "contain communism." It remains silent about the extent of the crimes the U.S. and its partners in crime committed, especially against the peoples of Asia, Africa, Latin America and the Caribbean, but lauds the U.S. international financial institutions which imposed dollar hegemony over the world economy and subordinated all the countries to U.S. hegemonic aims.
According to the Cold War outlook, it was the Anglo-American imperialists, not the anti-fascist peoples of the world led by the former Soviet Union and its Red Army, who were the victors who saved the world from the scourge of Nazi-Fascism. The Anglo-American imperialists turned the anti-fascist fighters of the peoples and the Soviet Union into the enemy and directed all the might of their economic, military and police powers, including the U.S.-led aggressive alliance NATO and the CIA, into what they call the forces of freedom against totalitarianism. The narrative of the Anglo-American imperialists, including Canada, continues to be based on the same outlook in which the U.S. represents "freedom" while Russia, China and others are autocracies. Trump is an anomaly to be dealt with pragmatically to save the world from those the "collective west" says threaten their survival.
The publisher's official summary of Carney's book says the following: "We are at a hinge moment in history -- reminiscent of what the Allies faced at the end of 1941, when Winston Churchill was in Ottawa meeting with Mackenzie King -- an age of uncertainty and rising perils that is reshaping global political, economic, technological, and social orders, and overturning our day-to-day lives. The good news is that, just as Churchill, King, and FDR would eventually swing what Churchill termed the 'Hinge of Fate' towards freedom and prosperity, we too have agency to build an even better Canada."
All of this is obscurantist indeed. It totally denies that it is the peoples of the world who are the makers of history. It also tells us nothing about the striving of the oligarchs the world over to rule with impunity by getting rid of any constitutional or regulatory and institutional barriers which limit their ability to do so. Their aim is to make the rich richer by making sure their narrow private interests can thrive.
It is also a fact that the oligarchs and their representatives who trade on the stock market can thrive when there is uncertainty by short selling, despite regulations which claim to bring it under control. This means they buy when the price of stocks is low and sell when it is high. While the world suffers from uncertainly, those who have access to inside information because of their connections to those in positions of power and privilege can make a lot of money.
It is also a fact that police powers as exercised by Donald Trump operate by deliberately creating uncertainty. They have huge state assets at their disposal to unhinge everyone so that all those who do not have an agenda of their own become merely reactive and play into their hands. The same happens to any people who do not set their own agenda on a pro-active basis so that the profound crises in which the liberal democracies are mired can be resolved in their favour.
Keeping this in mind, it is nonetheless necessary to find out
what measures Carney intends to take "to build an even better
Canada." It is thus instructive to review, besides Carney's own
lectures and writings, the preoccupations of the oligarchs who rub
shoulders at the annual World Economic Forum (WEF) in Davos,
Switzerland and of the privileged elite, Carney included,
invited to attend the secretive Bilderberg Group annual
meetings. Carney is (or has been until now) a
member of the Group of Thirty at the head of the WEF and a
member of its "Foundation Board."[1]
Carney's preoccupations are all raised there.
To Be Hinged or to Be Unhinged –-
That
Is the Question for Mark Carney
Carney's belief is that, "The series of crises that have plagued us are not bolts from the blue but rather the product of a gathering storm whipped up by the structural drivers of inequality, the forces of economic volatility, the erosion of democratic principles, the scourge of autocratic governing, and our growing confusion between value and values." In his previous book, Value(s): Building a Better World for All, Carney argues that values "have been compromised by market valuations." He proposes a vision for a society that prioritizes values like fairness, solidarity, and compassion.
According to the promotional material for his upcoming book, "Over the past quarter century, the combination of crises, globalization, and technological change have meant that real wages and quality of life in advanced economies have been falling at unprecedented rates. The consequence is a deep loss of trust in institutions at precisely the time when they will be needed most."
The phrases used by Carney, not unlike those of the much lauded "technocrats" and "financial gurus," slip glibly off his tongue as if they explain something when in fact no explanations are forthcoming about what causes all these things -- the "structural drivers of inequality, the forces of economic volatility, the erosion of democratic principles, the scourge of autocratic governing and the growing confusion between value and values." And this despite the fact that Carney devotes an entire book to his "vision."[2]
To
suggest that there is "growing confusion" between "value" and "values"
is self-serving. Besides anything else, the values he refers to are the
principles enunciated by the Charter of Paris,
adopted by the
Organization of Economic Cooperation and Development (OECD) in 1991
after the
collapse of the former Soviet Union]. They are also called "Canadian
values," "British values," etc. It is designed to impose the
values of the Anglo-American imperialists on the entire world at a time
the peoples of the world are defining their own identity by fighting
for their own right to be.
This is a time when the working class and peoples of the world are not
confused about how the striving of the oligarchs to rule with impunity
obstructs their striving for peace, freedom and democracy and they are
taking measures to settle scores with this old conscience of society
Carney represents. And this is precisely what the oligarchs and their
retinue of technocrats and "financial gurus" are working so hard to
make sure does not take place.
The promotional material continues:
"Into this storm come two of the most profound -- and rapid -- economic and social transformations in human history: the net zero revolution and the AI transformation. Each will disrupt almost every industry and change many aspects of our lives. At this hinge moment, we have the choice of whether the impact of the transitions on people will be positive and empowering, or brutal and disenfranchising.
"For Carney -- one of our most astute economic minds and passionate advocates for a more just world and healthy planet -- the solutions to our problems in Canada and beyond are complex, but our most important goals are straightforward and fundamental. The results that matter to people -- jobs, investment, growth, peace of mind, trust in institutions -- should be at the centre of our efforts. Policies should be subject to a simple test: Will they help or hinder progress for people?"
And there's the rub: who is defining "progress for people" and, for that matter, who constitutes "people." By what right do the oligarchs and their representatives do the defining?
According to the promoters of the book: "Our responses could not be more vital. As Canadians, we've solved big problems in the past. With The Hinge, Mark Carney shows us how we can solve bigger ones in the future. It is time to build, to build things that last. Not as a government, but as a people."[3]
This
is what Canadians and Quebeckers will decide for themselves. They have
their own experience with neo-liberal governments, strategies and
visions, all carried out by elites in positions of power and privilege
who claim to be acting on behalf of "the people," "the country" and the
"common
good."
Even though Carney's academic credentials and business experience are extensive, the working class and people of this country will not be awed. They know better than to expect deliverance from the Gods of Plague. Despite efforts of the cartel parties, pundits and media to present Carney as the expert of all experts that we are lucky to have as the next Prime Minister, the Canadian working class and people know better than to join them.
Notes
1. The WEF describes itself as an international body of leading financiers and academics. The WEF is funded by its 1,000-odd member multi-national companies.
Sustainability Magazine writes about the significance of the WEF as follows:
"In recent years, sustainability has dominated the Davos agenda, reflecting growing concerns over climate change, biodiversity loss and social inequality.
"Terms like green energy transition, circular economy, and net zero emissions are commonplace in the summit's discussions and its focus aligns closely with directives given by the UN, such as the Sustainable Development Goals.
"On that note, many of the initiatives launched at Davos have helped to catalyse global efforts in the pursuit of sustainability, from the Paris Agreement to advancements in renewable energy and ESG investment frameworks.
"The annual gathering also serves as a showcase for cutting edge technologies.
"Innovations in artificial intelligence, renewable energy and sustainable agriculture are prominent at Davos, with many technologies often making their debut at the forum.
"With this being said, Davos acts as the bridge between science and policy."
Referring to expectations about the 2025 WEF annual meeting held in January, Sustainability Magazine writes that it had taken up "the intersecting crises of our time with unprecedented urgency." It elaborates:
"A perfect storm of challenges -- rising global temperatures, economic instability and geopolitical tensions -- demands bold action and collaboration.
"At the heart of this year's agenda is its theme, Resilience and Renewal: Pathways to a Sustainable Future.
"The spotlight will be on decarbonisation efforts, water security and the equitable distribution of resources.
"Another distinguishing feature of the 2025 summit is its expanded emphasis on youth and grassroots voices.
"This is certainly new: In the past, Davos has been criticized for its failure to listen to voices from outside the highest echelons.
"The WEF has announced new initiatives to amplify perspectives from Indigenous communities, social entrepreneurs and climate activists under the age of 30.
"This reflects a growing recognition that the solutions to global challenges must be inclusive and bottom-up."
Participant Ignacio Galán, Chairman of Iberdrola, is quoted as follows: "The opportunities presented by the transition are enormous," he says, "but it is vital that both business and policy makers focus now on ensuring that people have the right skills and training."
"Without skilled workers, the transition will not be achieved and the benefits will be non-existent."
The Bilderberg Group is an exclusive secretive group founded in 1954. Britannica writes that its "annual meetings [are] attended by 120 to 150 political leaders, government officials, and experts from industry, finance, media, and academia in Europe and North America. The meetings, held in a different European or North American country each year, provide a private, informal environment in which those who influence national policies and international affairs in the West can get to know each other and discuss without commitment their common problems. After each conference a private report of the meeting is circulated only to past and present participants, and in the report speakers are identified only by their country. The meetings were initiated by Prince Bernhard of the Netherlands and took their name from the hotel at Oosterbeek, Netherlands, where the first conference was held in 1954. An international steering committee generally selects different delegates each year."
2. About Carney's Book Value(s)
Reviews of Carney's Book Value(s) -- Building a Better World for All are readily available on the internet and worth reading, as is the book itself, to form an opinion about his vision of "markets with heart."
Reviews of his book provided on Amazon written by his peers in the upper echelons of the stratosphere have this to say:
"An essential book for anyone interested in how to ensure a sustainable and fair future for generations to come. Mark Carney argues that we must increasingly draw on our fundamental Canadian values to ensure that markets work to bend the arc of history towards climate and social justice and a sustainable future. His ten point plan for a sustainable recovery is what the next generation needs and deserves. Carney envisions a future for Canada, coming out of the Pandemic, that builds value for all and recognizes that our economy is deeply embedded in nature, not apart from it." -- Edward Burtynsky, Canadian photographer and artist who depicts the impacts of industrialization on nature and human existence
"Writing with the benefit of almost two decades at the heart of global financial policymaking higher circles, Mark Carney's indispensable new book asks how we can go from knowing the price of everything to understanding its true value. From the Great Financial Crisis to climate change and the coronavirus pandemic, this is the essential handbook for 21st century leaders, policymakers and everyone who wants to build a fair and sustainable world." -- Christine Lagarde, former Chair and Managing Director of the International Monetary Fund and President of the European Central Bank
"For nearly two decades, Mark Carney, international technocrat par excellence, has been in the most important rooms where it happened. In this thought-provoking and readable book, he asks a fundamental question: Why have the values in our society been hijacked by valuations in the market, and how do we restore paramountcy to basic values like integrity, fairness, and kindness? Carney brings to Value(s) the experience and wisdom of someone who has occupied the highest positions in the private and public sectors as well as the idealism of one who hopes for a better tomorrow. As societies struggle to rebuild solidarity in the post-Covid world, it will be an essential guide." -- Raghuram Rajan, former Chief Economist and Director of Research at the International Monetary Fund
"A roadmap to a fairer and more responsible, resilient world. Carney offers trenchant insights into our relationship with money and status, imagination and responsibility critical to our world's future. What do we invest in -– profit or human potential? This book is irradiated with the inspiring and critical conviction that money can be transformed into a tool of collective good." -- Sir Antony Gormley, widely acclaimed for his sculptures, installations and public artworks that investigate the relationship of the human body to space.
"Mark Carney draws on his unique experience of running two central banks to offer original and thought provoking solutions to the world's biggest challenges -- from COVID to climate change." -- Gordon Brown, former UK Prime Minister
The AI generated summary of his book Value(s) tells us this about Carney's values:
- Fairness: A key component of a good society, including fairness between generations and in the distribution of income
- Solidarity: A value that surfaced during the pandemic
- Responsibility: A value that should be incorporated into decision-making
- Compassion: A value that should be incorporated into decision-making
- Resilience: A key value that should be incorporated into society
- Sustainability: A key value that should be incorporated into society
- Dynamism: A key value that should be incorporated into society
- Humility: A key value that should be incorporated into society
3. Another source of information on Carney's vision of making sure the market has heart which might be of interest to those concerned about the state of governments today might be Oeconomicae et pecuniariae quaestiones -- Considerations for an Ethical Discernment Regarding Some Aspects of the Present Economic-Financial System. It is a 32-page document published by the Congregation for the Doctrine of the Faith -– Dicastery For Promoting Integral Human Development. A dicastery in this case likely refers to a group of people gathered for worship or a department of the Catholic Church.
The Introduction reads, in point 1:
1. Economic and financial issues draw our attention today as never before because of the growing influence of financial markets on the material well-being of most of humankind. What is needed, on the one hand, is an appropriate regulation of the dynamics of the markets and, on the other hand, a clear ethical foundation that assures a well-being realized through the quality of human relationships rather than merely through economic mechanisms that by themselves cannot attain it. This ethical foundation needs to inform a range of persons but especially those working in the fields of economy and finance. In this situation a synthesis of technical knowledge and human wisdom is essential. Without such a synthesis, every human activity tends to deteriorate. But where it exists, it can foster progress towards the integral and concrete well-being of the human person.
And herein lies the ultimate horizon of the common good that the Church, and presumably Mark Carney, seeks to advance.
Yet another source for understanding Mark Carney's vision would be the Council for Inclusive Capitalism
In December 2020, the Council for Inclusive Capitalism was launched at the Vatican with Carney as one of the key participants. Its website describes the Council as "an effort led by some of the world's largest investment and business leaders" which "signifies the urgency of joining moral and market imperatives to reform capitalism into a powerful force for the good of humanity."
With the "moral guidance of His Holiness Pope Francis and His Eminence Cardinal Peter Turkson, who leads the Dicastery for Promoting Integral Human Development at the Vatican, and inspired by the moral imperative of all faiths," the Council invited "the companies of all sizes to harness the potential of the private sector to build a fairer, more inclusive, and sustainable economic foundation for the world."
It explains that, "the Council is led by a core group of global leaders, known as Guardians for Inclusive Capitalism, who meet annually with Pope Francis and Cardinal Turkson. These leaders represent more than $10.5 trillion in assets under management, companies with over $2.1 trillion of market capitalization, and 200 million workers in over 163 countries. The organization challenges business and investment leaders of all sizes to embrace the Council's guiding principles and make public commitments to act on them. These collective actions are intended to lead to systemic change by making capitalism a greater force for inclusivity and sustainability."
"Capitalism has created enormous global prosperity, but it has also left too many people behind, led to degradation of our planet, and is not widely trusted in society," said Lynn Forester de Rothschild, Founder of the Council and Managing Partner of Inclusive Capital Partners. "This Council will follow the warning from Pope Francis to listen to 'the cry of the earth and the cry of the poor' and answer society's demands for a more equitable and sustainable model of growth."
For the full list of Guardians click here.
(To access articles individually click on the black headline.)
Website: www.cpcml.ca • Email: editor@cpcml.ca