ADMS 1010 Lecture : Week 1
Document Summary
Canada 1867: early mix of conservatism and liberalism. 1930s depression leads into democratic socialism as the safety net is begun. Post world war ii: things like unemployment insurance, canada pension plan, universal health care and education become the norm. Keynes and his theories predominate until he mid 1980 s. Mid 1980 s rise of neo conservatism. Current failure of unfettered capitalism, pendulum swinging back towards. Keynesian 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 government-sponsored 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 capitalism.