While offering contributions to our knowledge on modern governance, the model of social and political governance tends to avoid or at least overlooks the economic, and especially the political economy, dimensions and questions. Economic dimension is the central dimension of all governance processes, structures, and values; ignoring this central dimension obscures any meaningful discussion or discourse on democratic governance. The notion of “good governance” has been promoted through international agencies as well as corporate and government consultants whose main purpose it has been to structurally reform the governments and economies in developing countries in favor of globalizing corporate elites.

In November 2015, the newly elected Liberal member for Toronto Centre became the first rookie MP in nearly a century to step into the high-profile and demanding role of finance minister. He set about implementing pillars of Prime Minister Justin Trudeau’s economic platform, including tax cuts for the middle class, the new Canada Child Benefit, and a revamped Canada Pension Plan. Morneau brought ample experience as a business leader and volunteer to the role. He took the reins of the family business from his father, growing human resources firm Morneau Shepell to 4,000 employees from just 200.