Pierre Trudeau Quotes
The state has an active role to play in ensuring that there is equilibrium between the constituent parts of the economy, the consumers and the producers.
Pierre Trudeau, 1919-2000, Canadian Prime Minister (Liberal), Memoirs, 1993
Sourced by: Eigen's Political and Historical Quotations
The prime minister had a political and philosophical position that government should not interfere with or set or control pricing in the economy. However, a scandal broke out involving payday lending—short term lending the working class does to tide them over till pay day if they run out of money. Lenders were charging huge interest rates beyond anything that is conscionable. Cameron’s government placed controls on interest rates and other facets of that industry as they might have lost a vote of confidence in Parliament had they not acted. He was then questioned about the hypocrisy involved in his regulation, and he gave this amazing quotation, which was the classic reason for government price controls on the private sector that had been given by the Labor Party opponents for years. This also distressed extreme conservatives, who argue that market controls are always preferable to government controls.
To the modern reader utterances such as this from a Conservative Prime Minister seem astounding. However, the Great Depression existed in Canada as well as the United States, and Franklin Delano Roosevelt was not the only world leader who would reach the conclusion that business and capitalism must be profoundly regulated and the system changed if it was to be saved.
She was then the European Commissioner for Competition.
Collection of Spoken Words of the Prophet. Ironically, despite the reverence with which words of the Hadith are accorded in Islam, from time to time Muslim theologians and authorities have attempted to establish “fair prices” despite this free market view of the Prophet.
At the time of this interview there had been a decade of business fraud at many different levels. The regulatory agencies supposedly responsible for the regulation had neither the staff or the political will to even enforce the laws and regulations then in existence and there were many loopholes in those. Many business interests opposed all regulation and strict enforcement as a diminution of the health of the economy. Others, like Greenspan, saw fraud as corrupting the markets themselves and therefore the usual capitalistic economic competitive forces that would control business do not operate with extensive fraud.
TR came from a wealthy, upper class family, and because of his position favoring regulation of corporations he was called a traitor to his class by many.
This rigid view left no room for regulation which is what almost every modern industrial democracy has chosen. To some of his extremist followers, any government regulation of business or the economy whatsoever, regardless of how little, means that the nation has embraced socialism. It is in this sense that many extreme right wingers viewed Presidents like Franklin Delano Roosevelt, Harry Truman, John Kennedy, Bill Clinton, and Barack Obama as socialists while they saw themselves as opponents of socialism.
Joseph Philippe Pierre Yves Elliott Trudeau PC CC CH QC FRSC, also referred to by the initials PET, was a Canadian politician who was the 15th prime minister of Canada and leader of the Liberal Party of Canada from 1968 to 1984, with a brief period instead as Leader of the Opposition between 1979 and 1980. His tenure of 15 years and 164 days makes him Canada's third longest-serving Prime Minister, behind William Lyon Mackenzie King and John A. Macdonald.
