MGMT 1030 Lecture Notes - Lecture 4: Price Controls, Mixed Economy, Macroeconomics

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20 Jul 2016
-It took a World War for Canism to become a government policy
-He saw that what worked in war could also work in peace
-Hiack always rejected macroeconomics
-In the battle of ideas Hiack was on the losing side, everyone agreed we needed
more planning which was Canes idea
-1944 New Hampshire:
-With the world at world Canes met up with delegates to plan post-war
-His idea of idealism and humanity was an inspiration (Canes)
-His influence outlived him
-Ve Day 1945, war was over troops came marching home
-At the end of World War 2 there was no faith in the market economy as the great
depression grew on
-Clement Atly
-System of planning and controls they hoped would continue on post war
-Socialist Atly, went out of his way to go against Churchills system
-Britain went to the poles, Churchill was out and people had voted for a new
socialist rule(they did not trust Churchill) Atly.
-He promised to build a new Jerusalem (the labor movement) and the sacredness of
private property
-Labor created a mixed economy
-Government owned industries worked for the common good and not its
shareholders etc.
-People found it better
-Planned economy of Lennon Calon defeated fasism and socialism was on the march
and capitalism left
-The cold war had begun
-Switzerland 1947, Hiack loved mountains becuz they breathed freedom
-He saw the planned economy and socialism had threats to freedom
-Hiack formed a meeting and discussed the free economy vs. Socialism
-Berlin 1947:
-the war left Germany broken and Russia confirmed some of it
-High inflation made the germany currency worthless
-Hiacks ideas were similar to Airharts
-The Black Market formed, cigarettes were its currency
-Aighart went on the radio and announced to give up all price controls
-He ebolished price controls
-Germanys social economy combined the free economy overtook Britiains more
planned economy
-Most countries wanted to plan their economies
-India was the makeup of all economists
-Public sectors became the commanding heights of the economy
-First Prime Minister of India- Neru
-Neru thought of applying this perfect mathematical formula for the economy
-India became the economic model
-All over Africa people looked at socialism to lead them out of proverty
-Therefore Canes has won, the way to go is the free market capitalist revolution
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