The CNR- Creating a Crown Corporation

12 keynesian economics macroeconomic theory business

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Unformatted text preview: of Ottawa, 18 January 1904 7 Amazing Change – 1900 to 1950 •  •  •  •  •  •  •  •  •  •  Immigra*on Recession First World War Another Recession (Depression) The Roaring Twen*es The Great Depression World War Two Post War Boom Industrial development (see text) Tenth Richest Country in the World 8 9 10 Sept 2012 ADMS 1010 11 Interven*onist •  From “laissez- faire” capitalism to an interven*onist government –  Tariffs and land taxes the major form of government revenue –  “Temporary” income tax 1917 to pay for the war –  Emergence of a “social safety net” star*ng with the Great Depression –  Keynesian economics –  A more compassionate society? 12 Keynesian Economics •  Macroeconomic theory •  Business cycles •  Use of fiscal and monetary measures to mi*gate the impact of depressions and recessions •  Influence lasted *l the Friedman era (post 1970) and returned with the latest financial crisis "His radical idea that governments should spend money they don't...
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