SOSC 1510 Lecture Notes - Lecture 3: Petro-Canada, Canadian National Railway, Democratic Socialism
15 Oct 2016
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Liberalism focus on the rights of the individual, with the market as the key economic driver. Conservatism / toryism focus on protecting privilege and social order - historically they were about protecting the privileges of social order. Promote free markets = free from gov"t regulation. > assumes they are naturally lean and mean. > balance budgets (on the backs of the poor) Change from keynesian emphasis on stimulating demand for goods and services, and thereby creating jobs To monetarist supply-side policies that try to stimulate the economy by lowering taxes and restricting the money supply (protecting rich investors from inflation). Relax labour laws (i. e. offer less protection to workers), freeze minimum wage, use back-to-work legislation, declare essential services . All help lower wages, weaken unions, and make workers more flexible (afraid, desperate, cooperative: changed culture. Offer tax cuts > reduce public spending. Shift from keynesian policies to monetarism as advocated by milton friedman. From we to me greed is good!
