Do Stocks Matter?

Today we speak with an economist who argues that stock markets don't have a lot to do with what really matters in our daily, economic lives. And that, because of what he calls the stock-marketization of our culture, we give them far more attention than they deserve.

Today's guest host was Jim Brown.

Part One of The Current


It's Monday, August 15.

Texas governor Rick Perry announced on the weekend that he will be seeking the Republican presidential nomination.

Currently, well, what can possibly go wrong with a right-wing Republican governor from Texas in the White House?

This is The Current.

Do Stocks Matter? - Jim Stanford

Stock markets have been on a wild run lately. Last week, the S&P/TSX composite index fell almost 200 points after the US credit rating was downgraded from Triple A status.

Globally, it was the biggest one-week plunge in stocks since 2008. Concerns over the stock markets were all over the headlines, but did that market fluctuation actually have an impact on people's daily lives?

Economist Jim Stanford argues the stock market has little to do with what he calls the "real" economy. He works with the Canadian Auto Workers Union and is the author of Economics for Everyone: A Short Guide to the Economics of Capitalism. He was in Toronto.

Do Stocks Matter? - Sherry Cooper

To bring in another perspective into the conversation, our next guest was Sherry Cooper. She is the Chief Economist at BMO Financial Group. She was also in Toronto.

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