this post was submitted on 17 Apr 2025
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“If you're a fan of the established order of capitalism Carney's your guy for sure…”
I think both Pierre and Carney fit this description.
However one will cheer on the 51st state and one will lead a stable economy
No, it doesn’t. There are two important differences.
PP is a devotee of the cult of the free market, that markets are best and all we need to do is remove restrictions on them. Carney believes markets should serve to people, that the end goal isn’t just naked efficiency but they we need market forces directed to get human-centric outcomes.
This is extensively covered in Carney’s 2021 book “Values” which I encourage everyone to read in order to understand the important differences in these approaches. Carney’s approach is an explicit rejection of the idiotic free market cultism of PP and his ilk.
Another critical difference is in competence. Carney is an experienced leader who was so well-regarded in his field that the UK selected him as the first ever non-local to run the Bank of England. Whereas PP can’t even manage to handle questions from friendly press, let alone lead something.
So no, they are not the same. You might still want to prefer an explicitly socialist approach that rejects markets entirely, which is a legitimate perspective for sure. But aside from the revolution party no one is really advocating that at the federal level.
The difference, fundamentally, is that Carney studies markets, while Milhouse worships them.
The nuance I’d add is that while free markets are efficient, serving the public good is more important than the purest efficiency.
As an example, an unrestricted free market incentivizes the development of monopolies. This can be efficient and in the extremely long term these monopolies may fall to disruptive new entrants — but we humans live in the present and take little solace in the idea that the monopolist will someday get too bloated and fall. We just want to afford groceries!
So using competition bureau powers, we can restrict those markets. This may subtract from some extreme market efficiency but that’s an efficiency only the monopolist benefits from in a useful time frame.
The same principles are true in many other areas of the economy.