ADMS 1010 Lecture 4: Week 4 - The Government in the Economy [P1]

• School: York University
• Department: Administrative Studies
• Course: ADMS 1010
• Professor: Yong Troy

Document Summary

Week #4 the government in the economy. Nationalization is the act of taking assets into state ownership. Occurs when government purchases an existing company or creates a new one. Done to enable the government to manage the economy better in terms of long-term development and medium-term stability. The creation of crown corporations in the 1960s and 1970s, plus the ever expanding role of government after world war 2 helped kick start this era of nationalization (canadianization). Claimed that government measures distorted market values and resulted in inappropriate compensation. The impact of the recessions of the 1970s and 1980s left governments broke. Governments turned from expenditure to inflation and budgetary control. Neo-conservatism takes hold on western nations, starting with the election of. Margaret thatcher in britain and followed by the elections of ronald reagan in the. Privatization, sliming down of the civil service, competitive traties like nafta become the norm.