1010lecture6E Fall09

1010lecture6E Fall09 - ADMS 1010 Instructor: Laura Gainer

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ADMS 1010 Instructor: Laura Gainer lauragainer@sympatico.ca Midterm Assignment: Due TODAY! Late Chance! Assignments will be assessed a 5% penalty
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Today’s Agenda Lecture 6 Readings: Between Public and Private: Readings and Cases on Canada's Mixed Economy , Representative Government and the Provision of Public Goods pp. 270 – 283 Canada And The New World Economic Order , pp. 34 - 59 already covered in Lecture 3; 205-237; Plus we are going to revisit 183-193 from Lecture 4 Case: (assigned reading in lecture 2) Between Public and Private: Readings and Cases on Canada’s Mixed Economy, Federal Government’s Industrial Strategy to Regional Economic Disparities pp. 379 - 396
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What the heck is going on ?
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Definitions State : a community organized for the purposes of government with the community being the people who live within a defined territory. I deology : the set of shared values,  beliefs and ideas, even perceptions,  through which members of a society  interpret the reality of their past and  present as well as shape their  expectations and ambitions for the  future.  
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Changing Role of the Public Sector Canada and the New World Economic Order pages 183-205 assigned in Lecture 4 Public Economics One of the reasons for societies to  organize collectively is for economic  betterment. The branch of economics  which deals with economic actions of  government is called public  economics. The principals for state intervention are based upon the concept of market failure
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Reasons for Market Failure Failure of Competition Public Goods Externalities Incomplete Markets Inefficiencies in capital markets Information failures Macroeconomic disequilibrium
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Policy Areas of Government Set Legal Framework (traditional role of gov’t) Production of Goods and Services (varies over time and is ideologically linked) Tax and redistribute wealth (again tied to ideology)
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The Changing Role of Government In earlier times the role of government was fairly clear: infrastructure, national defense and education. Social services if any were provided by charities. As modern life became more complex,  there was a literal explosion in the  roles and responsibilities of  government.
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Growth in Gov’t Expenditures Wagner’s law suggests as GDP increases it produces a more than proportionate increase in Gov’t spending. (Very accurate) Review the tables in Wesson pp190-192 Our increase in gov’t expenditures tied to transfers to individuals 1970’s we began running deficits
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1990’s Canada begins to aggressively attack deficit spending such that today (well prior to 2009) most Cdn gov’ts run balanced budgets However there is still a huge debt to repay. See table 7
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This note was uploaded on 11/02/2010 for the course ADMS adms 1000 taught by Professor Indirasomwaru during the Fall '09 term at York University.

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1010lecture6E Fall09 - ADMS 1010 Instructor: Laura Gainer

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