Bill C-300 Case Study

1148 Words5 Pages
Bill C-300: Big nickel and dimed Canadian mining, gas and oil companies take up to 60% of the world total extracting industry. Much of this extracting is being done in developing nations, where Canadian companies actually help some of the local impoverished residents by building roads, schools, creating jobs and even stimulating their economy. But at the same time there are also many allegations of Canadian companies causing severe environmental damage to fragile habitats, forced displacement of local people and even rape and murder. Such incidents have occurred in Ghana where due to privatizations, tax breaks, deregulations and so on, Canadian gold mining companies are soaking in the all the wealth and leaving Ghanaians with little…show more content…
Government regulation and intervention will only increase prices and temporarily balance the market in the short term. In the end it’s the invisible hand of the market that will set things straight. Ideally the neoclassical approach prefers as little government intervention as possible. Focusing specifically on the issue of the Bill C-300, the neoclassical approach looks at this situation very simply. Since extraction is being done in foreign nations, why should the Canadian government intervene? It should be the job of the government of that nation to protect its people. If more intervention is to occur it would hurt Canada’s extraction industry, which is also one of Canada’s largest industries bringing in a lot of wealth and opportunity to our country. According to the neoclassical approach, much of this would have not been possible. With more government intervention, potential multi billion dollar extractions could be put on hold or completely lost due to villagers in that area who refuse to move. If extraction companies are being forced to accommodate these people, the results will show up in increased prices and loss of profits. Other reasons include that the bill is an extension of Canadian law into foreign jurisdictions, many foreign governments do not cooperate, every complaint must be investigated at the expense of the tax payer’s dollar… The point being is that…show more content…
Radicals believe that capitalist profit from consumers, who are being exploited. In relation to the bill, radicals would say it’s the capitalist who are destroying the environment and disregarding human presence all in the name of profits. Radicals would approve of the bill as it would put an end to exploitation. But it does not completely comply with their views. A radical solution doe not exist in a capitalist society, but can only work if capitalism no longer existed. They believe in over throwing the whole system as it is very wasteful and it promotes the uneven distribution of

More about Bill C-300 Case Study

Open Document