Evolution of Liberal Principles in North America
Who is President Teddy Roosevelt
October 29, 1929. Investors traded a record 16.4 million shares. They lost $14 billion on the New York Stock Exchange, worth $206 billion in 2019 dollars.
What is Black Tuesday
Established to oversee broadcasting in Canada, including licensing, content, and ownership.
What is the CRTC / Canadian Radio and Telecommunications Commission
In 1971, the United States withdrew from this agreement that used the Gold Standard to set exchange rates for currencies of most o the world's industrialized countries since 1945. Soon after, most other countries followed suit, allowing world currencies to freely float on world markets.
What is the Bretton Woods Agreement
This theory holds that control of a country's money supply is the best means to encourage economic growth and limit
What is Monetarism
This legislation was introduced in the United States in 1890 to prevent collusion and monopolies between competing companies
What is the Sherman Anti-Trust Act
Founded in Calgary in 1932 with mixed economic policies such as public ownership of industries and financial institutions
What is the Canadian Co-Operative Commonwealth Federation (CCF)
This premier was a staunch opponent of organized labour and often used police force to break up strikers' picket lines
Who was Duplessis
In response to American and Western European support of Israel during the Arab-Israeli War, this oil monopoly imposed a five-month embargo on the United States, reducing the production of oil. Prices quadrupled causing gas shortages and rationing in the United States.
What is the OPEC Crisis
This economic theorist believed that inflation was primarily the result of an excess supply of money produced by central banks. He argued that when the money supply was increased, consumer spending would also increase, leading demand to rise and thus inflation to increase. The amount of money issued by the central bank should be linked to economic indicators such as the rate of inflation
This legislation was used to prevent some organized labour activities, thus weakening unions, although this was not the original intent of the legislation
What is the Sherman Anti-Trust Act
In 1935, this strike was organized after 1600 workers left relief camps and gathered in Vancouver. After two months of protesting low pay and inadequate wages, the group of men climbed about train cars to ride across the country to get the attention of the Prime Minister
What is the On-to-Ottawa Trek
Some provinces have instituted a tax system that allowed the provinces to use the funds to expand infastructure
What is a PST / Provincial Sales Tax
This is the term for when recession and high inflation occur at the same time
What is Stagflation
This economic theorist believed that excessive government control of economic aspects of life would inevitably lead to government controlling aspects of social life. He felt that government intervention was a danger to civil liberties.
Who is Friedrich Hayek
Created as an alternative - owned by members and profits are used to offer members better lending rates or lower fees
This Prime Minister and his party became more involved in the Canadian economy during the Great Depression, creating many public institutions and social programs. Who was this PM?
Who is William Lyon Mackenzie King
In 1942, his report to British Parliament recommended the role of the state be expanded to provide members with more security
Who is Sir William Beveridge
Reduced government involvement - reduced income and business taxes, reduced regulations and controls on businesses, increased military spending and cut social welfare programs. The theory was that the cuts from the top would flow down to the bottom and everyone would benefit
What is Reaganomics / Supply-Side Economics / Trickle-Down Theory
Measures employed by governments to stabilize the economy, specifically by manipulating the levels and allocations of taxes and government expenditures
What is Fiscal Policy
An age of unfettered capitalism. Economy experienced tremendous growth and social values were changing - people, especially women, were becoming more liberated.
The New Deal created programs that were influenced by the three r's - what are they?
What is Relief, Reform and Recovery
What is the Postwar Consensus
Britains Conservative Prime Minister who tried to reduce government involvement in the economy, increase economic freedom and entrepreneurship. Sold social housing, privatized many utility companies and took a hard line with labour unions.
Who is Margaret Thatcher
Approach by a British Prime Minister that focused on trade unions, public ownership, strong welfare state, government intervention and redistribution of wealth while still adopting and maintaining some Thatcher policies. It would be a compromise between post-war consensus and monetarism. Attempts at balancing individualist values of monetarism and collectivist values of social justice.
What is Blair's Third Way