SOSC 1340 Lecture Notes - Gini Coefficient, Brian Mulroney, State Ownership
31 Jan 2013
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Day 5 lecture october 5th: government, states, government intervention in the economy, crisis of the 1970s (following the golden age of capitalism, neoliberal response (1980s-1990s, contemporary canadian economy, global financial crisis (2008+) Have to understand the role of the government in the economy (why it should or shouldn"t interfere with the economy) State = political organization of geographical area: also called a nation-state. Areas of intervention: regulation and law. Establishes property laws i. e. property laws, real estate laws, shareholder and ownership rights, intellectual property rights, etc. (mostly intangible: monetary policy. Building roads, railroads, energy power plants, canals, fresh water extraction sources, etc. Capital goods for the economy: public sector employment. Employing people in healthcare, education and other agencies: welfare. Day 5 lecture october 5th: public ownership i. e. ontario hydro. In 1800s, the emergence of economists and economic theories, saying governments shouldn"t intervene with capitalist economies. In 1900s, socialist revolutions, socialism, central planning of the economy.
