The stories we’ve been sold for decades about how our economy works have been collapsing in front of our eyes. Yet the most prominent, well-funded ideas for how to create economic opportunity and security for working people in Canada are stuck in the 1990s.
Free trade, privatization and low taxes on capital and wealth have led to economic insecurity and anxiety for working people. Their benefits have not trickled down.
Right now, our market economy is neither free nor fair. Gobsmacking inequality and high barriers to asset ownership and wealth building for working people are policy choices – and we can make different choices.
It is increasingly clear that governments must shape markets so they work for working people. Governments must aggressively push back against the economic practices that are consolidating wealth, concentrating ownership of assets and robbing working people of their political power and economic agency.
The stories we continue to be told about how the economy works are not true. It’s time for new, more accurate stories.
Solutions to the concentration of wealth, power and opportunity exist. At SCP, we are committed to highlighting these solutions and the increasingly clear evidence that there are alternatives that will build economic resilience, sustainable economic growth, community well-being, human happiness and democratic stability.
On this topic
Concepts of a plan to confront the new United States
Living next to a superpower run by oligarchs is not where we expected to be 20 years ago, says Matthew Mendelsohn. But it’s where we are. Pretending otherwise doesn’t serve our interests. Canada is big enough, powerful enough, smart enough and rich enough to build a stronger, more independent economy if we start now.
The Alternative Exit podcast: Championing Employee Ownership Trusts to revolutionize wealth distribution
SCP Chair Jon Shell sits down with Andy Farquharson on The Alternative Exit Podcast to explore the transformative potential of employee ownership. Jon recounts how he advocated for Employee Ownership Trusts (EOTs) in Canada to address wealth inequality and business succession. He talks advantages of EOTs, from preserving a company’s legacy to fostering economic resilience in the workforce and reshaping both business culture and wealth distribution.
Social Capital Partners appoints slate of new advisors
Advisory Board members will advise on SCP’s strategy and agenda, drawing on decades of experience across finance, business, government, public policy, communications, civil society and community economic development.
A message from Social Capital Partners: We’re going to tell you the truth
There are lots of real, tangible public-policy solutions to the problems we face, says Matthew Mendelsohn. It begins with talking about the economy in a different way, grounded firmly in the public interest and data that reflect the reality of how people experience their economic lives.
Uncommons Podcast: Wealth inequality and inclusive growth with Matthew Mendelsohn
Social Capital Partners’ CEO, Matthew Mendelsohn, joins Member of Parliament for Beaches-East York, Nate Erksin-Smith, on his podcase “Uncommons”. Matthew and Nate talk about wealth concentration and its threat to democratic stability. They also discuss practical solutions to address wealth inequality, lack of trust in democratic institutions, the role of the federal public service and the need for a competent and responsive government.
Mark Carney and the Canadian business elite need to think more about growing wealth inequality that is destabilizing democracies around the world
Mark Carney made a speech last week and many people had plenty to say about it. But one of his replies during the Q & A deserves more attention than it received. MP Nate Erskine-Smith asked Carney what he would do about Canada’s growing wealth inequality. Carney’s answer was a bit unfocused, but he made two points clearly: 1) Let’s hope wealthy people give more to charity, and 2) We shouldn’t only focus on redistribution.
Billionaire Blindspot: How official data understates the severity of Canadian wealth inequality
Statistics Canada's official wealth survey significantly underestimates wealth inequality. Canada’s wealth concentration is not as extreme as in the United States, but closer than official data suggest. This misleading portrait undermines Canadians’ ability to have an evidence-informed conversation about how to address growing wealth concentration and the threats it represents for economic resilience and democratic stability.
Preparing for SCP’s next strategic phase
Social Capital Partners has a long history of investing in people and projects that create more economic opportunity in Canada. Recently, our focus has been on establishing more avenues for working Canadians to build wealth through ownership. Learn more about what we are moving towards.
Getting the facts straight on the changes to capital gains tax in budget 2024
Social Capital Partners' Chair, Jon Shell, sets the record straight on the capital gains changes in the 2024 Federal Budget.
Canada is bad at studying wealth inequality and we explain why that matters
Social Capital Partner's Director of Policy Dan Skilleter summarizes the key findings of his recent report "Billionaire Blindspot" in a Toronto Star Opinion piece.
