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The former Bank of England governor Mark Carney, a climate-focused economist who became the first non-Briton to run the Bank, is considering entering the race to replace Justin Trudeau as Canada’s prime minister.
Trudeau announced on Monday he would step down after nearly 10 years in power once his ruling Liberal party chose a new leader, throwing open the doors to a fierce party race before a general election later this year.
Carney, 59, in a statement quoted by Bloomberg, where he is a chair of the board of directors, said he would be “considering this decision closely with my family over the coming days”. A longtime and prominent member of the Liberal party, Carney said he was “encouraged” by the support of Liberal lawmakers and people “who want us to move forward with positive change and a winning economic plan”.
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Ex-banker and asset manager doesn’t sound very appropriate for the context we’re in tbh. Yes I know he’s not that one-dimensional, but this is the frame at the moment and he didn’t post good numbers in the first available poll he featured in.
Carney is interesting in that respect because he has relatively leftist ideas for an economist. He’s sort of like Piketty; a neolib with socialist characteristics.
Yeah that’s my impression too, which is why I’m not petrified by the prospect of him being a PM. That said I’d prefer someone like Nate Smith if the numbers show he could win enough votes from PP.
I love his work with the Fearless Flyers — I’d vote for him on that basis alone! https://www.youtube.com/watch?v=72_zXigcOrA
Edit: seriously though, Smith is way too young. He could be a good candidate for next time.
On the other hand, I think that’s the type of person who when working for the people could put forward policy to actually affect the situation.
Frankly the current liberals repeatedly stoked housing demand and didn’t significantly shift to increasing supply. I would hope an economist would focus on the right incentives for the market to drive demand.
This highlights a problem I foresee with a Carney PM - relying on market forces to fix housing. The market has no incentive in solving the supply shortage without massive intervention. Perhaps that’s what you’re envisioning when you say the right incentives. In the past this problem has been successfully tackled centrally. E.g. council houses in the UK.
I think there’s only two ways out: do something massive and the government directly builds and forces hands, or the government steps in and gets developers to actually build by e.g. giving our preferred interest free loans and building bonds.
Ideally we get both so that if the market don’t play ball the gov can undercut them with no profit motive.
I would hope an economist would focus on the right incentives for the market to drive demand.
Herein lies an issue: the fact that he’s an economist doesn’t mean that he’s in for the economics of the greater good. And the fact that he himself has a few strong beliefs on what the economic solutions should be, doesn’t mean he’ll actually make them happen.
There is criticism in the economics community lately, Nobel Prize winner Angus Deaton published a scathing critique of the field that has garnered a lot of discussion https://www.imf.org/en/Publications/fandd/issues/2024/03/Symposium-Rethinking-Economics-Angus-Deaton
I hope that means economists are seriously reevaluating how and what they communicate especially for policy and government.
I don’t think your criticism applies to just Carney, you can apply that argument to every politician.
He sure was when he headed the BoC during the 2008 crash.
If you remember he never once handed out useless platitudes or treated Canadians like they were stupid.
Easier to do when you’re not an elected official.
He spoke to us often during that time. Never lied or glossed over the dangers once.
I would be quite happy with Carney as PM (especially if PP is the alternative) but I don’t think he has the name recognition or the charisma to win, especially against the tide of people being so tired with the Liberals.
I honestly don’t think any liberal does at this point, better to just put up a sacrificial lamb and try again seriously in 4 years when the Conservatives manage to do absolutely nothing about cost of living because it’s a global problem not a local problem.
Well, I would really like them to pick someone that can at least stem the bleeding enough that they don’t get wiped out. My only hope at this point is that the Libs and NDP can hold it together enough to force a Conservative minority. I can’t handle that sniveling little weasel having unchecked power.
There’s a lot of Canadians who remember how he buffered us against the shitstorm of 2008. Compared to the US we weathered it with flying colours.
The other thing about Carney is he isn’t a political hack … he hasn’t been brought up through the ranks and absorbed all the crap most politicians have. He’s honest and tells it like it is. If you want a reminder go back and look at his announcements from 2007-09. Not one lie or platitude passes his lips.
I honestly believe he could not only get the nomination, but he could beat PP hands down.
he could beat PP hands down.
Yah, that’s some unbridled optimism right there.
Gotta lay my last vestiages of hope somewhere.
I wish I could believe that, but I really don’t. Let’s not forget what happened to Kim Campbell.
I do agree that Carney would probably make a fine PM even tough he’s an economist. He’s very intelligent and oddly left-wing, at least by the standards of his profession. He also has the advantage of saying he wasn’t present or responsible for the past several years of Liberal debacles, but even that isn’t enough IMO.
Kim was the obligatory sacrificial woman put into power temporarily. Recent history is full of those.
Carney is different. I think he can do it.
I’ll be dancing in the streets if you’re right.
PP minority is the all I hope for. I’ll vote in the leadership election with that in mind. There already are polls on people’s views of various leaders. We’ll see how thos change towards leadership election day.
Carney was a big deal back in the day. He might have the name value.
The charisma? No. But then, I don’t think the most charismatic person alive could pull the Liberals out of their current spiral in the next 3 months.
He would have more charisma than dour technocrat Freeland.
Mmm. It’s Michael Ignatieff all over again.
There is THAT fear. I think he is a bit more grounded than Ignatieff. He speaks better. Ignatieff was too professorial. Lacked common touch.
We’ll see. Whoever wins is going to have an uphill battle.
Haha that’s an understatement. Whoever wins this public and likely acrimonious leadership race, earns the prize of the most painful political week imaginable. Make speech from the throne, then get immediately ass blasted from every direction until the government falls. It’s a suicide mission.
All those Cabinet ministers who suddenly wanted to be with their families instead of being in Cabinet, they saw something in the tea leaves.
Make speech from the throne, then get immediately ass blasted from every direction until the government falls. It’s a suicide mission.
And then it’s 35 days of curb stomps from the expected winner.
I’m betting that anyone who wants a career past 2029 will sit this one out.
In what way?
The Conservatives successfully painted Ignatieff as a member of the elite who was out of touch with Canadians (because he’d spent time abroad). Additionally, Ignatieff hadn’t held elected positions, so he didn’t have political experience.
Carney appears prone to the same issues.
Only if the Cons work hard to denigrate his education and ability to lead.
I honestly believe Carney is up to the task (as long as his family is good with it).
That’s exactly what they’ll do - it doesn’t matter how capable he is, it matters how he’s perceived.
The current batch of Conservatives are effective communicators, so it’ll be tough for whoever wins the Liberal leadership.
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