Terence Corcoran's article, 'Industrial strategy — a global push to crush capitalism', highlights the upcoming Canada Investment Summit, where corporate elites will gather to learn about Canada's shift away from free market principles. The summit, organized by Prime Minister Mark Carney, aims to attract up to $1 trillion in investment by promoting state-run industrial strategies across various sectors. Corcoran argues that this approach, while gaining traction globally, raises concerns about the potential abandonment of free market principles and the role of government intervention. He questions the wisdom of investing in projects dependent on unpredictable government officials and the potential risks associated with state-led industrial policies, citing examples such as the failed Canada Strong Fund in the UK. Corcoran emphasizes the need for Canadian business executives and economic policy influencers to critically evaluate these strategies and their implications for the Canadian economy and its global trading system.
