Linda McQuaig Quotes About Capitalism

• High interest rates focus on the revenue of a parasitic class.

  Linda McQuaig

  Class, Focus, Finance

• The free market is notorious for distributing resources in a highly unequal manner, with great concentrations of wealth at the top and poverty at the bottom. Our social programs, modest compared to those of many other Western countries, play an important role in redistributing some of those resources from the haves to the have-nots.

  Linda McQuaig

  Country, Play, Concentration Of Wealth

• For society to function some kind of reasonable balance has to be stuck between the competing interests of creditors and debtors. Although the mandate of the Bank of Canada was to maintain a delicate balance between encouraging growth and fighting inflation, the Bank opted to focus exclusively on fighting inflation. In doing so it came down heavily in favour of those with financial assets to protect, and against those whose primary need was employment.

  Linda McQuaig

  Fighting, Focus, Growth

• The statement, "The debt problem has become so extreme that we have no choice but to cut social spending" is presented as an objective assessment of our situation. But can you imagine a media commentator making the following assertion? "The debt problem has become so extreme that we have no choice but to raise taxes on the rich."

  Linda McQuaig

  Cutting, Assessment, Media

• The basic issue is whether the financial elite or the government on behalf of the people should have the profit from creating money.

  Linda McQuaig

  Creating, Issues, Government

• High interest rates focus on the revenue of a parasitic class.Historically the financial system has been structured in favour of moneyed interests, that is, creditors.

  Linda McQuaig

  Class, Focus, Favour

• A tight-money policy reinforces inequality in two ways. Its high interest rates disproportionately reward the rich, and the resulting unemployment disproportionately punishes the poor.

  Linda McQuaig

  Two, Rewards, Way

  Linda McQuaig (1996). “Shooting the hippo: death by deficit and other Canadian myths”

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