Neo-liberalism denies the collective interests of people

Re: Why Ottawa doesn't rein in runaway house prices

Douglas Todd presents an accurate, if incomplete, description of neo-liberal thinking in his column musing on why the federal government doesn't intervene on runaway housing prices. Ottawa's lack of response is completely consistent with a neo-liberal outlook, in which “the market” rules.

Neo-liberalism fundamentally changes the relationship between government and the governed, treating us as individual consumers in the marketplace. In other words, neo-liberalism denies the collective interests of the people.

We have long experienced neo-liberal policies in B.C. where the commons or the collective wealth of the people is privatized to create profits for corporations and investors. Think B.C. Hydro and its transformation from publicly owned to operated in the interests of private energy developers. B.C. Rail sold (“leased”) to CN in 2004. The privatized B.C. Ferries and resultant fee hikes and reduced sailings rather than being operated as part of the provincial highway system. And then there is Trans Mountain Pipeline and the intermingling of government and corporate interests in profit making that is in conflict with community interests in the environment and Indigenous rights.

Neo-liberalism promotes reductions in government spending, and that results in decreased access to housing, health care, education and other public services. Like Todd says, the neo-liberal response to runaway house prices is to tell those who want to own a home to “try harder,” and that is completely consistent with their ideology.

E. Wayne Ross, Vancouver