Our economic system is fundamentally one of capitalism. It can be said that the different government apparatus intervene in our economic system. For example, the government subsidizes and establishes rules for certain economic activities. According to the capitalistic philosophy, supply and demand should be the only determinant factors in our economy. This is not so in Canada. However, the Canadian economy , by in large, proceeds following the law of the market ( i.e., supply and demand). In consequence, we have to ask ourselves, what is the role and responsibilities of the private sector toward hiring youths in a capitalistic system.

The prime directive of the private sector in a capitalistic system is to make a profit. The corner stone of any capitalistic system is the incentive for individuals to make a profit. In other words, profit motivates people to perform to the best of their abilities. Furthermore, the fact that the private sector has to make a profit in order to survive, eliminates those that do not perform and/or bring forth a competitive product. Therefore, our capitalist system not only motivates people to perform but also eliminates those who do not perform.

In this environment, the role of the private sector is not to hire youths but to make a profit. Hiring employees mean added cost to an organization, which means that in a capitalistic system the private sector will hire when he or she absolutely needs to and not when society needs it. It is normal and understandable that, in a capitalistic system, organizations hire according to their needs and not those of society.

With globalization, competition has risen and the profit margin of the private sector has fallen. In such a context, North American organizations presented downsizing of their operations as the key to face global competition. Therefore, downsizing was not only the key to staying competitive but also essential for the survival of many organizations in our contemporary capitalistic system. This change has translated, over the years, to thousands of layoffs and a stoppage in new hiring. Hence, rationalization is a double edge sword for youth's in this country.

Our capitalistic system is far from being perfect. Novertheless, there is no alternative that provides the same freedom of movement or incentive to perform. These are two very important elements in any society.

By Vincent Boudreau.

In collaboration with Jason Binstock