Tackling Wealth Disparity in Canada: A Case for Profit-Sharing

In Canada, wealth disparity is escalating, with the wealthiest 20% holding nearly 68% of the country's net worth, and the poorest 40% having only 3%. The middle class and poor are struggling, with rising inflation and stagnant wages exacerbating their financial challenges. There is a growing consensus that the current economic system fails most Canadians, leading to an increase in social unrest and dissatisfaction with democracy. Frank Stronach, founder of Magna International, suggests that profit-sharing is an effective solution, as it encourages employee participation in wealth creation. He proposes a nationwide strategy requiring corporations to share a portion of their annual profits with employees, which could counteract wage stagnation and boost productivity.