Government ownership of business is an idea, quite appropriately, in wide disrepute.
As Adam Smith famously wrote: “I have never known much good done by those who affected to trade for the public good.” Profit-seeking businesses, on the other hand, do effectively serve the public. “It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner,” Smith observed, “but from their regard to their own self-interest.”.Google, Meta, Loblaw, Sobeys and other companies must promote the interest of their users and customers.
The ongoing political attacks on grocery stores juxtaposed with federal agricultural policy provides an excellent illustration of this point. The favourite whipping boy of federal politicians is Loblaw. Its company value is $37.4 billion. Meanwhile, the value of farm quota in Canada is $43.8 billion as at the end of 2021.Article content
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