GGR209H5 Lecture Notes - Lecture 7: Canada–United States Softwood Lumber Dispute, Statism, Local Economic Development
Document Summary
Market economies celebrate the virtues of private markets and free enterprise". Yet governments profoundly affect influence over all aspects of human life in market economies. Governments are a big sector of the economy in terms of jobs and expenditure. In many neighbourhoods public institutions (governments, schools, hospitals) are the largest employers. Governments are institution with authority over laws in mandated territories. Unitary forms of government are dominated by national governments, supplemented by local governments (uk) Federations feature a constitutionally recognized layer of regional governments with substantial powers (canada) National governments have the most power domestically and shape the mandates of international governance. Functions can be privatized (moved from public to private control) or nationalized (vice- versa) The public and private sectors are highly interdependent (e. g. the health sector) National governments, control the supply of money. National governments regulate the financial system through national banks" arms of government itself or directly responsible to it.
