Mark Carney compares his sovereign wealth fund to Norway’s. Canadians are smart enough to see it’s far worse

Luke Savage/Toronto Star: In stark contrast, Carney says that the government’s Canada Strong Fund will use public money to “invest alongside the private sector in nation-building projects, on a fully commercial basis” — which is just another way of saying that the state is going to subsidize private projects. Rather than tax the profits of the oil industry — which could well reach a record $90 billion this year thanks to the US-Israeli war with Iran — and reinvest them in public goods, it wants to use our collective wealth to underwrite them. This, as scholar Seth Klein recently observed, is in fact the exact opposite of the Norwegian model…