Illustration by Michael George Haddad
Corporations and corporate power
A decade after the worst financial crash since the Great Depression, a fragile recovery is obscuring threats—some new, some as old as capitalism—to Canadian workers and the broader economy. In this first part of a two-part feature on the fallout of that crisis, the Monitor looks at the financial flows, government revenue shortfalls and austerity plans that undermine our ability to handle another sudden shock. Here's a sample of what you'll find inside this issue:
Illustration by Katie Raso Ten years from the onset of the Great Financial Crisis, and eight after the “turn to austerity,” provides a useful vantage point. From here we can clearly see how austerity quickly succeeded the panic-driven experimentation with economic stimulus of the 2008-09 period.
Illustration by Katie Raso
“If you asked me two weeks ago if this could have happened, I would have said it couldn’t.” Imperial Metals president Brian Kynoch, spoke these words at a news conference on August 5, 2014, the day after the devastating collapse of a tailings dam at one of Imperial’s operations, the Mount Polley copper and gold mine.
This paper explores the many parallels between the tailings dam spills at the Mount Polley mine in British Columbia (BC), Canada, and the Samarco mine in Mariana, Minas Gerais, Brazil.
VANCOUVER — British Columbia’s Mount Polley mining disaster bears remarkable similarities to a catastrophe at a Brazilian mine the next year and points to the strong possibility of more environmental calamities ahead, warns a new report that examines both events.
The Mount Polley disaster took place in August 2014, when the dam holding toxic waste from the copper and gold mine collapsed, creating the largest environmental disaster in Canada’s mining history. In November of the following year, the largest mine disaster in Latin American history took place in Mariana, Brazil, when an even larger reservoir of waste collapsed at the Samarco iron mine.
March for a $15/hr minimum wage at the University of Minnesota, April 2015 (Photo by Fibonacci Blue ,Flickr Creative Commons).