ADMN 3400H Lecture Notes - Lecture 3: Balance Of Payments, Consumer Protection, North American Free Trade Agreement
30 Mar 2020
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Expression of political instincts in economic thinking: conservative. Tend to view private property as a traditional institution worth preserving. Want to reduce government deficits, end government borrowing money. Expression of political instincts in economic thinking: liberal. Tend to supper government regulation of economy. See a large role for government in "redistribution" of the wealth. Tend towards keysian economics (government should in some circumstances use fiscal an monetary policies to stimulate the economy. Believe in government intervention to provide a safety net for those who are disadvantaged in our society. Believe in government stimulus programs to stimulate the earth or the economy. Libertarian = reform, some conservative (not really a big political force in canada) Radical: democratic corporate capitalism will or should end soon. Capitalism is being overwhelmed by debt and is caught in a debt trap. Global trade imbalances will cause a worldwide depression and collapse of trade. Governments will over-regulate and interfere in free markets until they collapse.
