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Lecture 6

History 2125F/G Lecture Notes - Lecture 6: Keynesian Economics, Open Shop


Department
History
Course Code
HIS 2125F/G
Professor
Peter Krats
Lecture
6

Page:
of 2
TEN LOST YEARS: THE GREAT DEPRESSION
circumstances and causes
economic crisis
reactions
keynesianism arrives - sort of
workers cope with bus after boom
TOWARD ECONOMIC CATASTROPHE
Canada remains greatly on outside capital even though it is moving towards the US
and Britain
uneveness of capital made things uneasy
rapid growth in Vancouver
wall street crashing was not the cause of the depression - was only a symptom
this created a huge amount of uncertainty and because oft that people pulled out
stock markets had been built to fail - free market, no regulation at all
stock markets were a huge mess
over capacity
dealing with the depression - let the tariffs work
not my problem - helping is wrong
new ideas laissez faire vs capitalism
some relief work - boondoggling - jobs that would never be done except when
government makes them do things
in 1935 relief bill was a record 135 million
tensions abound: toronto protest
seeking change: on to ottawa track - stimulated anger which resulted in direct action
NEW POLITICAL VIEWS
reconstruction
CCF
Social Credit
political extremism
BENNETTS NEW DEAL
there can be no permanent recovery without reform
it means government control and regulation. It means the end of laissez faire in short -
internvetion
toward keynesianism
NEC - Royal comission on dominion provincial relations
open shops made sophisticated : fordism
corporate goal: avoid unions despite assembly lines
- solution more pay
accept the open shop
encourage provide credit - get extra money back by convincing workers they are
consumers