MGMT 1030 Study Guide - Final Guide: Spinning Frame, William Lyon Mackenzie King, Second Industrial Revolution

• School: York University
• Department: Management
• Course: MGMT 1030
• Professor: Andrew Thomson

Document Summary

A wartime measure introduced during world war ii in canada by the liberal government prime minister william lyon mackenzie king. First in canada to legally recognize the existence of unions and to force employers to negotiate with organized workers. Considered the framework for union rights in canada. Continued to be in effect until 1948, where the provinces all passed similar legislation within their respective jurisdictions. Union now had guaranteed access to financial resources and support through rand formula. Workers won right to share in gains of increased productivity through higher wages and benefits. Promoted virtuous cycle of production and consumption to produce economic growth based on keynesian policies. Required all workers under a union to pay union dues in exchange for a collective bargaining unit. British economist whose ideas profoundly affected the theory and practice of macroeconomics. Ideas are basis for school of thought known as keynesian economics. Against free market believed government should control economy.