Week 2 Defining Canada

Modern banking institutions availability of credit

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Modern banking institutions. Availability of credit encourages entrepreneurship. Economic growth encourages efficient management.
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What is an Ideology? An ideology is a collection of ideas that allows us to view things in a common way and help form the basis of public policy development. Nations tend to have dominant ideologies that have the greatest impact on how policy is developed. Ideologies can change from time to time Society alters its view on an issue; New governments bring a different ideological bent to the way they do things; Technological or great economic change can cause systemic shifts in ideology
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Examples of Ideological Change Protestant Reformations in Europe: rejecting the authority of the Universal Church led to new yet similar religious organizations which in turn affected what was deemed to be the societal norm. Calvinism vs. Catholicism – early church subordinated economic activity to spiritual growth; Calvinism embraced and even encouraged the development of personal wealth. Economic Crisis of 2008: Conservative governments turned to corporate bailouts to avert financial disaster.
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Influential Political Ideologies Socialism, Communism, Democratic Socialism (Collectivist Ideologies) Liberalism, Utilitarianism, Libertarianism (Individualist Ideologies) Conservatism
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Canada’s Dominant Ideologies Political Liberalism Democratic Socialism Conservatism Economic Capitalism
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Liberalism Classical liberalism stressed the importance of individual property rights, natural rights, the need for constitutional limitations on government and freedom of the individual from any kind of external restraint. Advocates the principles of representative government, the protection of civil liberties, and laissez-faire economics. A natural union exists between Liberalism and Capitalism. Globalization and Neo-Liberalism are often used interchangeably.
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Democratic Socialism Democratic socialism took firm root in European politics after World War I. Does not see capitalism as an evil that needs to be overthrown through revolutionary means. Instead, tends to accept elements of capitalism, however, desires that government play an interventionist role in the management of the economy and markets. Seen as an evolutionary process that works within the context of a democratic system. Promotes the concept of a “welfare state” in which the government guarantees a basic level of services and protections to its citizens
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Conservatism Classical Conservatism emphasizes the importance of tradition and continuity. Generally sceptical of rapid change. Advocates minimal but strong centralized government.
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