Village Squire, 1976-02, Page 9cleanses inefficient management also secures
to the consumer the best value at the lowest,
cost.
An irony of Canada's,_present condition is
its aggravation by the excessive degree of
foreign ownership, a problem which does not
exist in J apan. Here again there is a choice: to
attempt belated control by the Foreign
Investment Review Agency; br to reverse the
trend by encouraging a market sector
composed of Canadian -owned enterprises.
In 1975, Canada's economy underwent a
major shift toward the permanently controlled
planning sector advocated by John Kenneth
Galbraith. The Galbraithian thesis is
deceptively attractive but it rests on the ,
assumption that because the planning
sector exists, and because it constitutes a
danger both to the working of the economy
and to the maintenance of free institutions, it
must be controlled permanently by the state.
At a time when Canadians are disturbed by
the magnitude of the whole government
apparatus they are unlikely to welcome its
• further expansion is inseparable from
permanent controls.
"Encouraging the market sector to perform
its natural function - especially through tax
reduction and through checks on monopoly
power - will provide a natural countervailing
force to the planning sector. Such
encouragement, however, must -be accom:
panied by structural changes at the federal
and provincial levels to deal with concentra-
tions of power, with monopoly, with
restrictive practices, iri short with all the
articial restraints which have been allowed to
degrade and inhibit the natural competitive
checks and balances -of the market system.
In the long run, public opinion in a
democracy is the best safeguard of
democratic institutions. An awareness of the
dangers in the present direction may yet
reverse the shift to authoritariansim.
Perform a
death -defying
act.
Exercise regularly.
ii vi° 11; ,trt Fund
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291-1841
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VILLAGE SQUIRE/FEBRUARY 1976, 7