[LABRST 1A03] - Midterm Exam Guide - Comprehensive Notes for the exam (55 pages long!)

• School: McMaster University
• Department: Labour Studies
• Course: LABRST 1A03
• Professor: David Goutor

Document Summary

Between 1947-1948 it becomes clear that canada"s economy is growing and is going to be very good. This resulted in the rise of domestic demand and war bonds are what canadians bought in major numbers. After this the war you see the cashing out of war bonds and an ideology emerges that an active government is a good thing. This resulted in the vast expansion of education systems. Furthermore the rise in domestic demand provided new jobs and lots of them as people needed goods for not only themselves but also the rest of the world. These bonds were also used as a propaganda method in the war. Following the end of wwii the public began cashing in these bonds on a grand scale. The economic theory that had the most influence on the rise of the welfare state was keynesian economics.