Class Notes (806,881)
Canada (492,496)
York University (33,494)
ADMS 1010 (241)
Yong Troy (33)

Week 1

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York University
Administrative Studies
ADMS 1010
Yong Troy

Week 1 Business in the Canadian Context ADMS 1010TroyPart Two Canadas Changing IdeologyCanada 1867 Early Mix of Conservatism and Liberalism1930sDepression leads into democratic socialism as the safety net is begunPost World War II Things like unemployment insurance Canada pension plan universal health care and education become the norm JM Keynes and his theories predominate until he mid 1980sMid 1980sRise of Neo conservatism CurrentFailure of unfettered capitalism pendulum swinging back towards Keynesian theory John Maynard Keynes 18831946Keynesian economics stands as the most influential economic formulation of our time The free market could not succeed without direct and coercive government intervention He believed that high unemployment was a result of insufficient consumer spending and could be relieved by governmentsponsored programs In necessary governments should enter into deficit in order to stimulate economic activity Unemployment could be reduced by government stimulus with a calculable cost to inflation Was attack that his policies open the door to socialism while others see his theories as being the balance between socialism and unfettered capitalismCanadas Economic HistoryCanada first caught the attention of European nations due to the abundance of fish off of our eastern coasts Many European nations particularly catholic ones fished in our waters The French and the English were the first to establish settlements mainly to preserve the fish they caught before transporting back homeThe fur trade soon beings to outdistance fishing as the major economic activity Fur hats were all the fashion rage in Europe Fishing settlements tended to be seasonal while those that grew up due to the fur trade were permanent Montreal and Quebec City became important ports for the fur trade
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