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POL203Y1 (58)
Ryan Hurl (41)

public and social policy

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University of Toronto St. George
Political Science
Ryan Hurl

Public and Social Policy March-31-11 6:13 PM 1. When people talk about governments getting to big, their not talking just about personnel. In fact when you look at the number of federal government employees as a percentage of the workforce, that number has been steady since 1967. 2. Government personnel has pretty much been the same as you count it as percentage of rthe work force, there was a spike in the 60;s and 70s at the state level but not federal level. 3. When people are talking about government there talking about how much government spends. In terms of what the bureaucracy spends, if you take that as a percentage of American GDP it has been stable since the late 80s because government has spent more but GDP has risen as well. 4. There has been a growth since the 60s in government regulations. In government interventions in economic activity. There are the current rate and thats been the case for the last 10-15 years after a small dip. The current rate flucauates between 75,000 and 85,000 regulations. 5. Congress passes a law and the law states general objectives but leaves figuring out the details to the executive. The thinking is that the bureaucrats are professional, they have the expertise, their objective and they still have to do consultation. 6. Congress normally since WW2 have past laws that are general but leaves the bureaucracy to fill in the details and those details are regulations. 7. Regulation is not the only way that the U.S government has to influence economic activity. It is everything we do involving money, buying, selling, loaning, investing.. The free market. 8. Government has 4 ways of influencing, intervening, regulating, economic activity and the free market it does this for the budget, it does this through tax policy, through the federal reserve and through regulations. 9. In general a successful and functioning market depends on and requires economic activity because that generates more money in the system. 10. Money is the air that is needed to fill the free market tire. First of all the air circulates within this tire and economic activity is that circulation. Potentially once the tire has enough air to start it can fill itself with air. But if the money injected slows down the air gets sucked out of the tire (market). The problem is when the free market economy is left to its own devices it accelerates whatever is happening in it. 11. We can say it is great because we generate more and more money, but when the free market hits its capacity of activity in it , it then accelerates till it booms. The cycle is usually 10-15 years. 12. People pulling out of spending and investing also sucks more air out of the market which then speeds up the slowing down of the system until there is no longer any air in the free market tire. Thats the risk you have in recessions. During boom times the risk is the economy getting to much activity and coming to a crash and during recession is the slow economy bringing the market to a halt. 13. A successful free market economy requires external intervention. Regulation of how much air there is in the tire and how much activity there is in it. That means
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