ReadingStudyGuide2[2]

ReadingStudyGuide2[2] - Reading Study Guide 2 The...

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Reading Study Guide 2 The Reconstruction of the Global Economy 1. Social Democracy is where the governments backed by coalitions of works and farmers took responsibility for macroeconomic management, social insurance and social security, and labor rights. Read page 230-236 Industries where the quality of labor was particularly important, and where wages were a relatively small component of total costs. It was easier for a capital-intensive company which relied on dependable and committed labor forces, to support measures that increased wage costs than it was for companies in an industry such as footwear or garments, where labor turnover in the best of times was very high and where wages were the largest cost firms faced. 2. Keynesianism - the economic theories of John Maynard Keynes who advocated government monetary and fiscal programs intended to stimulate business activity and increase employment His principal contribution to the economic debate of the time had to do with fiscal policy. He
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ReadingStudyGuide2[2] - Reading Study Guide 2 The...

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