Neoliberal Capitalism

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Neoliberal capitalism contributed to the Canadian crisis with long-term care facilities during Covid-19 through public policies that pushed for privatization and deregulation, hence, their mismanagement. Privatization of the systems meant that the long-term care systems became profit-making businesses for entities such as Revera. Consequently, they experienced low inexperienced staffing enough to make profits and poor quality of services due to subcontracting of vital functions such as the foodservice, laundry, cleaning (Skerrett, 2020). The concept of privatization and deregulation, just like structural adjustment programs in the United States’ health sector, saw the government implement policies that shield the pharmaceutical industry from regulation, so they sell drugs at exorbitant prices at the expense of sick people (Navarro, 2004, pp. 4).
The 1991 recession crisis saw the federal and provincial governments adopt measures, such as minimizing their role in public ownership of the economy to sustain the economy. The move paved the way for the privatization of long-t...