Political Science 2211E Lecture Notes - Lecture 9: Harry Dexter White, Oligopoly, Progressive Tax
6 Dec 2015
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Lecture 9 rise of the mixed economy. Governments raised interest rates to defend fixed currencies gold standard. No bank bailouts domino effect as people pull money out of banks and more fail; refuse to lend money. Led to rise of economic nationalism protect national economy: tariffs, capital controls, controls on immigration, bennet: canada first end of economic globalization. Mainstream parties and business begins to support more intervention: compromise to avoid revolution" or election of ccf. Began with roosevelt"s new deal in 1930s. Interventionist policy: business regulation, labour regulation, social programs, job stimulus. Deposit insurance through fdic: securities and exchange commission how big banks can be, risk they, federal deposit insurance corporation certain amount of money in bank is insured by federal government to prevent bank runs. 1935 national labour act in usa strengthened legitimacy of unions, companies had to officially recognize trade unions and right to collective bargaining.
