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The Sport and Prey of Capitalists: How the Rich Are Stealing Canada’s Public Wealth
The story of how we as a nation collectively built promising national projects and are now selling them off to the rich.
In the early 1900s, thousands of citizens fought to create a public power company, freeing the waterpower of Niagara Falls from the control of wealthy interests. Another popular movement succeeded in establishing Canada’s public broadcasting system to counter American dominance of the airwaves. And a Canadian doctor created a publicly-owned laboratory that saved countless lives by producing affordable medications, contributing to medical breakthroughs and helping eradicate smallpox throughout the world.
In recent decades, however, Canadians have allowed their inspiring public enterprises to be privatized and their vital public programs downsized, leaving them increasingly dominated by the forces of private greed that rule the marketplace.
In this provocative book, Linda McQuaig challenges the dogma of privatization that has defined our political age. She argues that, particularly now as we grapple with climate change and income inequality, we need to expand, not shrink, our public sphere.
In the early 1900s, thousands of citizens fought to create a public power company, freeing the waterpower of Niagara Falls from the control of wealthy interests. Another popular movement succeeded in establishing Canada’s public broadcasting system to counter American dominance of the airwaves. And a Canadian doctor created a publicly-owned laboratory that saved countless lives by producing affordable medications, contributing to medical breakthroughs and helping eradicate smallpox throughout the world.
In recent decades, however, Canadians have allowed their inspiring public enterprises to be privatized and their vital public programs downsized, leaving them increasingly dominated by the forces of private greed that rule the marketplace.
In this provocative book, Linda McQuaig challenges the dogma of privatization that has defined our political age. She argues that, particularly now as we grapple with climate change and income inequality, we need to expand, not shrink, our public sphere.
264 pages, Paperback
First published August 31, 2019
32 people are currently reading
461 people want to read
About the author
Linda McQuaig
26 books79 followersDescribed as ‘Canada’s Michael Moore’ by the country’s National Post, Linda McQuaig is an award-winning investigative reporter and columnist for the Toronto Star. She is the author of seven Canadian bestsellers, which have earned her a reputation as a fierce critic of the establishment.
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Displaying 1 - 30 of 36 reviews
September 14, 2019
An excellent review of decades of government incompetence or avarice in choosing to privatize public businesses to the detriment of the country.
It is both infuriating (to contemplate the routes that should've been taken) and informative (I lived through the sale of the 407 and Hydro, but there are many privatizations I was unaware of). I can't recommend it enough!
It is both infuriating (to contemplate the routes that should've been taken) and informative (I lived through the sale of the 407 and Hydro, but there are many privatizations I was unaware of). I can't recommend it enough!
January 4, 2020
Written from a Canadian context, The Sport & Prey of Capitalists tells a universal story of capitalism, and its most recent incarnation, neoliberalism.
"That narrative has things backwards, insists Polanyi. The free-market economy is actually unnatural and it had to be constructed through laws; what is natural is for people to seek the protection from society, through some sort of collective body or governments, to shield them from gluttonous private interests" (p.201).
And it is the persistence of these 'gluttonous private interests' that threaten the public interest - "achieving greater social well-being and equality, better health, and stronger economic security for all their citizens" (p.203).
McQuaig also offers a very nice synopsis of Alberta's squandering of opportunities in developing oil & gas (and bitumen), and the lack of planning for its staggering environmental deficit.
"That narrative has things backwards, insists Polanyi. The free-market economy is actually unnatural and it had to be constructed through laws; what is natural is for people to seek the protection from society, through some sort of collective body or governments, to shield them from gluttonous private interests" (p.201).
And it is the persistence of these 'gluttonous private interests' that threaten the public interest - "achieving greater social well-being and equality, better health, and stronger economic security for all their citizens" (p.203).
McQuaig also offers a very nice synopsis of Alberta's squandering of opportunities in developing oil & gas (and bitumen), and the lack of planning for its staggering environmental deficit.
May 1, 2024
4.5 — this was such a great read, I learned sooo much. I have to dock half a point for the tone/style of this sometimes. I found the exclamation points and asides really grating at times lol. But otherwise, highly recommend to all Canadians. RIP our strong public infrastructure 😭
December 18, 2019
In The Sport & Prey of Capitalists, Linda McQuaig achieves two important things: she gives a lesson in Canada's history of public enterprise across numerous sectors, and then she makes a case for the continuation of that proud history in key industries of the future.
In both cases, her work here is vital.
In spite of this country's recent trend of reviling public institutions, McQuaig manages to make a real case for them, celebrating the great successes of Canadians in establishing a hydroelectric utility, a leading pharmaceutical laboratory, and more. This celebration is a necessary one for Canadians who may have forgotten, or -- as in my own case -- who never even heard about some of these endeavours.
McQuaig then builds on that celebration by suggesting ways we could spearhead public movements into sectors that will surely be vital in the future. The idea of revitalizing postal banking is an almost revolutionary one, but perhaps more important is the notion of converting the soon-to-be shuttered GM Oshawa into a publicly owned green vehicle manufacturer.
There are important ideas in this book -- ideas that show a breathtaking vision of what this country can be, and that Canadian leaders present and future should in the very least consider.
In both cases, her work here is vital.
In spite of this country's recent trend of reviling public institutions, McQuaig manages to make a real case for them, celebrating the great successes of Canadians in establishing a hydroelectric utility, a leading pharmaceutical laboratory, and more. This celebration is a necessary one for Canadians who may have forgotten, or -- as in my own case -- who never even heard about some of these endeavours.
McQuaig then builds on that celebration by suggesting ways we could spearhead public movements into sectors that will surely be vital in the future. The idea of revitalizing postal banking is an almost revolutionary one, but perhaps more important is the notion of converting the soon-to-be shuttered GM Oshawa into a publicly owned green vehicle manufacturer.
There are important ideas in this book -- ideas that show a breathtaking vision of what this country can be, and that Canadian leaders present and future should in the very least consider.
This entire review has been hidden because of spoilers.
July 28, 2020
This was interesting to me in that it introduced me to broader applications of public enterprise in Canada's history and what it could become, and for that, I appreciate it.
However, it was quintessentially Canadian in an awful way. It regularly compared Canadian history to American history to emphasize Canada's moral excellence, instead of relying more on Canada's own achievements to stand for themselves. When discussing Canada as a whole, it focused almost exclusively on Ontario. When it did talk about other provinces, it did so in a much more distant and unfamiliar tone compared to the spirited and personal tone used for people and institutions based out of Ontario.
The most egregious of the book's faults, though, comes when discussing the growth of public enterprise in Canada. Throughout, it centered almost exclusively around white Canadians and the benefits they receive under public enterprise. In fact, the book even seems to laud the Department of Colonization and Development created by the public CN Rail in the 1920s as something that propelled CNR to be a better service for Canadians than it's private service competitor, CP Rail. I wish the book had more accurately displayed how public enterprise has affected all Canadians, as opposed to a select few.
Overall, I enjoyed the histories of services described in the book. It fascinates me to learn about things like Connaught Labs, or banking through Canada Post, both things I had never heard of before, and services I would hope Canada invests in soon. However, I need a history that takes on a less exclusionary point of view than mainly white people in Ontario.
However, it was quintessentially Canadian in an awful way. It regularly compared Canadian history to American history to emphasize Canada's moral excellence, instead of relying more on Canada's own achievements to stand for themselves. When discussing Canada as a whole, it focused almost exclusively on Ontario. When it did talk about other provinces, it did so in a much more distant and unfamiliar tone compared to the spirited and personal tone used for people and institutions based out of Ontario.
The most egregious of the book's faults, though, comes when discussing the growth of public enterprise in Canada. Throughout, it centered almost exclusively around white Canadians and the benefits they receive under public enterprise. In fact, the book even seems to laud the Department of Colonization and Development created by the public CN Rail in the 1920s as something that propelled CNR to be a better service for Canadians than it's private service competitor, CP Rail. I wish the book had more accurately displayed how public enterprise has affected all Canadians, as opposed to a select few.
Overall, I enjoyed the histories of services described in the book. It fascinates me to learn about things like Connaught Labs, or banking through Canada Post, both things I had never heard of before, and services I would hope Canada invests in soon. However, I need a history that takes on a less exclusionary point of view than mainly white people in Ontario.
February 18, 2020
It’s okay as a popular book, but as a regular reader of academic books I would have liked to see more detail, more sources, more arguments counter-arguments and counter-counter arguments. It felt (and I say this knowing almost nothing about these topics) very surface level.
That said, it was very readable and fairly engaging.
That said, it was very readable and fairly engaging.
May 8, 2020
Plenty of ammo here in the fight against the privatization of public assets.
WARNING: This book will induce intense bouts of rage. Symptoms include uncontrollable swearing, contempt for sociopathic businessmen, and frequent lamentations over so many lost opportunities for growth in Ontario and Canada.
WARNING: This book will induce intense bouts of rage. Symptoms include uncontrollable swearing, contempt for sociopathic businessmen, and frequent lamentations over so many lost opportunities for growth in Ontario and Canada.
January 23, 2025
Corruption everywhere
June 27, 2020
It used to be that I read Linda Mcquaig's new books as soon as her publisher made them available. This one took me over a year after publication to get to, but she didn't disappoint. Canada missed out by not electing the NDP in 2015: McQuaig would have been a kick-ass Finance Minister.
She has always had an incredible journalist's knack for explaining economic ideas that are easy to understand. It isn't that complicated, really: those that benefit from low taxes, "free trade", privatization, and deregulation find fancy ways to justify their self-interests, and Mcquaig eviscerates them.
This latest book focuses on privatization. The title is from a quote by a Conservative Premier of Ontario talking about preventing electricity and the tremendous water resources used to generate it in Ontario from becoming the "sport and prey of capitalists." Municipal governments teamed up with the province in the early 20th century to confiscate the energy companies of the wealthy and produce affordable electricity for ordinary Ontarians.
The book is full of inspiring public ownership stories from Canada's history, including a public pharmaceutical company and banks run by the post office. It also includes enraging stories of missed opportunities to prevent exploitation of our resources by private interests, which have left us vulnerable to tremendous inequality, job losses, and climate catastrophe.
For a non-fiction writer Mcquaig is very entertaining, and this book ranks among her best.
She has always had an incredible journalist's knack for explaining economic ideas that are easy to understand. It isn't that complicated, really: those that benefit from low taxes, "free trade", privatization, and deregulation find fancy ways to justify their self-interests, and Mcquaig eviscerates them.
This latest book focuses on privatization. The title is from a quote by a Conservative Premier of Ontario talking about preventing electricity and the tremendous water resources used to generate it in Ontario from becoming the "sport and prey of capitalists." Municipal governments teamed up with the province in the early 20th century to confiscate the energy companies of the wealthy and produce affordable electricity for ordinary Ontarians.
The book is full of inspiring public ownership stories from Canada's history, including a public pharmaceutical company and banks run by the post office. It also includes enraging stories of missed opportunities to prevent exploitation of our resources by private interests, which have left us vulnerable to tremendous inequality, job losses, and climate catastrophe.
For a non-fiction writer Mcquaig is very entertaining, and this book ranks among her best.
Read
April 1, 2020Review by Yutaka Dirks:
In the 2015 federal election, author and journalist Linda McQuaig ran for Parliament as an NDP candidate in the riding of Toronto Centre. Her opponent was Liberal candidate Bill Morneau, who won the riding and went on to become minister of finance.
During the campaign, Morneau and Liberal Leader Justin Trudeau championed the idea of creating a Canadian infrastructure bank, which would "provide low-cost financing for new infrastructure projects." The bank would help finance things like public transit and housing, by borrowing the funds from the public through the sale of bonds to Canadians or their pension funds. People in Canada would finance the construction of infrastructure they benefit from (and own it, collectively).
Keep reading: https://rabble.ca/books/reviews/2019/...
In the 2015 federal election, author and journalist Linda McQuaig ran for Parliament as an NDP candidate in the riding of Toronto Centre. Her opponent was Liberal candidate Bill Morneau, who won the riding and went on to become minister of finance.
During the campaign, Morneau and Liberal Leader Justin Trudeau championed the idea of creating a Canadian infrastructure bank, which would "provide low-cost financing for new infrastructure projects." The bank would help finance things like public transit and housing, by borrowing the funds from the public through the sale of bonds to Canadians or their pension funds. People in Canada would finance the construction of infrastructure they benefit from (and own it, collectively).
Keep reading: https://rabble.ca/books/reviews/2019/...
June 29, 2020
An adequate cautionary look at the Conservative trait to privatize everything, only for the benefit of a few greedheads.
May 22, 2020
A simply fascinating look at how the Big Business culture is robbing the average Canadian blind. Though told a bit too informally for my taste, this polemic lays out very clearly and very neatly why Canadians are being hoodwinked and almost literally robbed blind by private corporate interests.
From a country which has a long history of successful public construction and ownership (if was not private industry which raised the funds to built the transcontinental railroad) and public enterprise, from Hydro One, the Canadian National Railroad, Public Banks, ect we now find a country which is is being told the public sector can't do anything. We just can't trust the public to do something, how could they ever get it done? The simple truth is, we have, and can do so again, if the government merely put its foot down and corporate interests just got out of the way.
One need look no further than the Debacle which is Highway 407. Built largely with public funds, and for public use, the government gave private firms a 99 year lease, when the option to give a far more reasonable 30 year lease was on the table. Now, instead of being able to control how much is charged on that necessary piece of road, the government is powerless as its private owners will rake in untold billions in value from Canadians until the year 2098. All for a measly 100 million to attempt to show a balanced budget.
That is but one sad example of the public good being squandered by private interests. It's a fascinating read and well worth the time.
From a country which has a long history of successful public construction and ownership (if was not private industry which raised the funds to built the transcontinental railroad) and public enterprise, from Hydro One, the Canadian National Railroad, Public Banks, ect we now find a country which is is being told the public sector can't do anything. We just can't trust the public to do something, how could they ever get it done? The simple truth is, we have, and can do so again, if the government merely put its foot down and corporate interests just got out of the way.
One need look no further than the Debacle which is Highway 407. Built largely with public funds, and for public use, the government gave private firms a 99 year lease, when the option to give a far more reasonable 30 year lease was on the table. Now, instead of being able to control how much is charged on that necessary piece of road, the government is powerless as its private owners will rake in untold billions in value from Canadians until the year 2098. All for a measly 100 million to attempt to show a balanced budget.
That is but one sad example of the public good being squandered by private interests. It's a fascinating read and well worth the time.
March 23, 2021
Births, strengths and deaths of vital transformative industries, and the interplay between private and public interest. This is one of the greatest examinations advocating for increased public enterprise in Canada I've read. The 407 highway, hydroelectrical power, the railway industry and financial banking are a few insights delved into where any individual is going to come upon a history they weren't aware of before. It seems Canada actually does have a bit of colour to its past. The unsung recognition of leaders who have faded from the nations memory is especially noteworthy and greatfull. The history of past battles approaches current challenges addressed in todays Canada, involving the development of an infrastructure bank, oil decline, and universal pharmacies. This book is perhaps not meant to be objective as politicians, entrepreneurs or agencies as proponents of free markets are typically villanified with no redeeming outlooks. This of course can not be true to who they were or may be, nevertheless this a book of any easy read effective in enhancing perspective. Excellent rating.
August 6, 2022
A series of case studies about successful Canadian public industries (Connaught labs, CNR, a public bank, and some war-time R&D organisations) and their eventual privatization. Interesting both for the history and the lessons about public enterprises -- primarily that infrastructure should be funded directly by government (since they can borrow at very low rates), and that natural monopolies (trains, electricity, ...) can be effectively and efficiently run by the public sector.
There is also an interesting chapter on Alberta's tar sands -- Canada and Alberta have basically bent over backwards to appease international oil companies, for no good reason, rather than using their leverage and collecting on any of the surplus rent that should go towards the owners (i.e., Albertan's) of the land the oil is extracted from.
What is missing is any significant direct address of opposing arguments, or studies of failed public projects and malinvestment.
There is also an interesting chapter on Alberta's tar sands -- Canada and Alberta have basically bent over backwards to appease international oil companies, for no good reason, rather than using their leverage and collecting on any of the surplus rent that should go towards the owners (i.e., Albertan's) of the land the oil is extracted from.
What is missing is any significant direct address of opposing arguments, or studies of failed public projects and malinvestment.
April 20, 2025
A brilliant book that every canadian should read, especially in 2025 when our political scene has gotten worse. The book does a great job in pointing out how privatization in Canada has hendered its growth and hurt Canadians. If we want things to improve we need to rethink the love our politicians have for private/foreign investments and control.
One thing the book also points out is how GDP per capita isn't this great way to analyzing how a country is doing. Especially the majority of its people. Canadians recently seem to be obsessed with GDP as one in all measure.
Lastly I think after reading the book it might inspire Canadian to take action and get more politically involved. Like how once ontarions fought for public hydro generation. We can hopefully stop how our politicians today keep stripping our public services once fought hard by fellow Canadians
One thing the book also points out is how GDP per capita isn't this great way to analyzing how a country is doing. Especially the majority of its people. Canadians recently seem to be obsessed with GDP as one in all measure.
Lastly I think after reading the book it might inspire Canadian to take action and get more politically involved. Like how once ontarions fought for public hydro generation. We can hopefully stop how our politicians today keep stripping our public services once fought hard by fellow Canadians
January 14, 2021
Every Canadian should read this book as it demonstrates that privatization is not the route for delivery of services such as hydro and rail and also shows how major companies are basically ripping us off. A lot of the examples she gives are quite maddening. For example, ultimately the tar sands are going to cost us way more than they contribute because the companies have not invested even a fraction of the clean up costs. This book will teach you how to talk to politicians who think privatization is the answer to everything (and when they can’t privatize they just go out and buy a pipeline on Kinder Morgan’s behalf🙄)
January 24, 2020
A very well researched book that highlights how politicians of all stripes have sold off prime Canadian assets for a song to the detriment of Canadians. Tax-payers’ dollars created world-class institutions that were given away to private investors who are continuing to reap multi fold benefits years later.
December 24, 2020
This is my first McQuaig’s book and I really enjoyed it. I learnt a great deal about an important part of Canadian history. I love the fact that public enterprise was such a pillar in the country’s making but as we can see not only here but in most of the countries around the world, we succumbed to the capitalism, provocation and the needy greedy selfish bottom line.
October 15, 2021
A really good read outlining the slow privatization of Canada's public utilities and services. Linda McQuaig conducted a brilliant piece of analysis, her ability to research is clearly evident. I think this is a good book for all Canadians to read, it's extremely readable and captivating. Goes to show how leaning on neoliberal ideologies ultimately harms public interest.
January 14, 2022
Excellent read. I’m surprised at how engaged I was reading about Canada’s economic history but McQuaig outlines and explains, convincingly, arguments about the benefits for public wealth in Canada. I come away from this well-written book feeling informed and intrigued. Every Canadian -especially Ontarians and Albertans - should read this book.
February 9, 2021
Powerful and disturbing at the same time. Ms McQuaig makes the case, with evidence, that corporations and their philosophies are creeeping insidiously into our governments. That includes the present Liberal government of Justin Trudeau.
April 11, 2021
Parts of our history every Canadian should know, but most likely doesn’t. Political spin today is so strong, the facts of our past are easily hidden. The Chapter on Alberta’s oil industry itself, makes it a worthwhile read for every Canadian voter.
September 24, 2023
Some great stories here that deserve to be better known; the CNR, Connaught labs, the 407, Ontario Hydro, public banking, Alberta petroleum, federal infrastructure. Admittedly, it’s a bit Ontario-centric, but still great stuff, delivered in engaging yet succinct style.
November 17, 2019
A tough read about decades of government waste and mismanagement but an important book to understand history of investment in business ventures.
January 10, 2020
I really enjoyed this book and learned a lot.
I now plan to read more on Henry Thornton as well as John FitzGerald.
I now plan to read more on Henry Thornton as well as John FitzGerald.
June 29, 2020
Excellent book that should be required reading for every Canadian.
July 28, 2020
Well-written, eye opening look at Canadian history and the loss of public ownership.
August 6, 2020
I believe every Canadian should read this book.
November 12, 2020
A wonderful exploration of the history of public ownership in Canada, and the neoliberal agenda to dismantle it.
November 17, 2020
Inspiring and infuriating. Needs to be read frequently enough to keep stoking that fire in the belly.
Displaying 1 - 30 of 36 reviews