POLS 3125 Lecture Notes - Lecture 23: Macdonald Commission, Monetarism, Price Controls
24 Jan 2018
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Document Summary
Economic crisis in 1970s: theoretical explanations: neo-classical liberal, weberian institutionalism, marxist. State"s responses: market-oriented social and economic policy. Spatial frontiers: removing barriers to the flow of capital. Relocation of the centres of investment to areas with low labour costs. Social frontiers; privatization of crown corporations and the delivery of social services. Economic realities: high inflation, high unemployment and decline in growth and productivity, anti-inflationary measures and response to economic contraction, wage and price control (1975), bank of canada, adopting a monetarist approach. Controlling the supply of money through the manipulation of interest rate: anti-inflation board (regulatory agency established in 1975) The royal commission on economic union and development prospects for canada (macdonald. Commission, 1984 recommendations which were released in 1985 became the basis for the third. Industry building: free trade with the usa. (1988). Two rounds of constitutional arrangements designed to promote decentralization. From compensatory liberalism (second national policy) to market liberalism.
