PSCI 2401 Lecture Notes - Lecture 8: Canada Pension Plan, Keynesian Economics, Unemployment Benefits
17 Nov 2016
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Document Summary
Politicians are in the business of getting re-elected. Politics depends on politicians using critical thinking, making judgements and decisions. Policies intended to enhance equality or help low income earners but had opposite effects. Employment insurance wealthy fams are ones who can afford to have one parent off. Canada pension plan rich ppl live longer. Employment equity helps women from wealthy fams. African american poverty declining until intervening welfare state. Welfare state weakened the once strong african american policy. Delayed effects of edu inequalities and globalisation (free trade) Globalisation increases value of edu for educated. Uneducated competing against those working for practically nothing. Racial strife devaluing real property of african americans. Lowered value of property in african american neighbourhoods. Keynesianism unintended effects of liberal system continuing low interest rate climate. Income and asset changes in constant dollars since 1981. Hourly wages rose approx 15%, declined about 7% for those under 24.
