PSCI 2101 Lecture Notes - Keynesian Economics, Eastern Bloc, Health System
7 Jul 2014
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Class 10 capitalism and the welfare state; background to. Some argue real democracies require being able to acquire market, and that a free market provides economic freedom needed for democracy. On the other side is social democracy equality for people; equality of opportunity provide a stable base for democracy. After world war 2, a lot of countries tried to balance these things via welfare state. Development in which liberal democracy developed gradually over time over a series of centuries, in conjunction with a form of capitalism that stressed industrial development. System in which individuals can own, buy, sell private property. Can establish business that can compete with other businesses and these businesses can hire workers. Capitalism developed in parallel with democracy in the western model. To some extent, wwii provided a challenge. Desirable for a new kind of politics to be formed for these countries to avoid severe challenges of capitalism.
