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PPGC67H3 (24)
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Week 9.docx

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Department
Public Policy
Course
PPGC67H3
Professor
Scott Aquanno
Semester
Winter

Description
Week 9- Social Welfare Policy  Essay o Look at specific issues raised in class and pick one to focus on your paper o Email TA with topic and thesis by Monday! o Research Questions  why is government policy the way it is? Internal  Why is government policy this way at this time and this way at this time ? -cross analysis of time  Provincial analysis o Ideas, institutions or structures  Review o Social learning  Policy makers customarily work within a framework of ideas and standards that specify the goals of policy  One of the principle factors affecting policy at time 1 is policy at time 0. The most important influence in learning is previous policy.  Policy responds less directly to social and economic conditions than it does to the consequences of past policy.  Path dependent trajectory. o  First and second order change can be seen as cases of normal policymaking, namely a process that adjusts policy without challenging the overall terms of a given policy paradigm  third order o Bradford- Used to understand economic policy  looks at the mediation of ideas at two different levels  1. Structural-economic relations rooted in dynamics of capitalism set boundaries on the range of legitimate ideas that will be considered  2. Institutional-political arrangements channel competition among such legitimate ideas  What capitalism is at a particular moment is different than it was yesterday.  We have to understand national level associations that mediate and influence a capitalist market  1930s  social Keynesianism X  vs  Technocratic Keynesianism + did not view capitalism as fundamentally flawed; rather the Great Depression revealed Canada's special problems of cyclical instability rooted in staples exporting economy.  THIRD ORDER CHANGE.  1970S  PC- truly important failures occurred on the economies supply side.  vs.  Neoliberalism- expertise and rationality of the state is bounded and officials are motivated to act in ways that undermine the public interest.  economic policy in canada is dominated by a technocratic keynesianism policy and then a neoliberalist view o Keynesian demand Theory  Aggregate Demand- overall level of demand in an economy for goods and services  1. Consumption  2. Investment  3. Government spending  4. Net Exports  All Keynesian approaches focuses on the above criteria  How do we promote these in an economy  How do you create positions right for this process. o Neo-liberalism  argues that markets are preferable to states in organizing economic and social matter  market is the most efficient and effective mechanism of social organization  state interference in the market is, by large  Inflation needs to exceed stagnation  Monetary Policy o Talking about policy controlled by central banks. o Manage Interest Rates o Overnight Rate  The Overnight Rate is the interest rate at which banks can borrow and lend to one another in the interbank market  The BoC sets a target for the Overnight Rate and provides reserves/money to accommodate demand at that target  The BoC provides reserves via OMO  Standford o we cannot understand how economies can or cant work without understanding monetary policy  Neoliberal Social Policy o Organizing Question  1) What is the nature of social policy under neoliberal globalization  Debate: Neoliberalism has seen a strong shift away from social entitlements VS the welfare regime associated with Keynesianism has been remarkably resilient o Welfare State
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