Question | Answer |
What was the sentiment in Canada when the war turned to the allies favor? | post war horror, left depression, end of wartime industry, period after WWI low eon growth. |
Under what premise does WLMK come to power and stay in power after the war? | maintain the economy by building peace time economy |
What is WLMK's 1st act to create peace time economy? | Asks for civil service to create an economic plan. 2 Plans debates WA Mackintosh (chosen) and Leonard Marsh. |
Keynesian Economics | govt intervention demand side economics, govt expenditure in tough economy, cut tax, give money, end irrational spending. Written in General Theory on employment interest theory and money. |
John Maynard Keynes | british economist
born cambridge
economist father, reformer mother
millionaire through stock market
work foreign office in India then CS
says treaty of versaille would militarize Germany |
When is the Keynesian Period in Canada | 1939-1971 |
Who was Leonard Marsh | write Report on Social security
McGill U sociologist
dollar a year man (work cs not overseas)
work wartime dept labour |
Report on Social Security | reconstruction doctrine, left-leaning keynesian, pessimistic
cover all areas social security, industry constricting once soldiers came home, govt needs policy to benefit soldiers (EI, health care), report had no plan for growth, no way to build economy |
WA Mackintosh | dollar a year man @ Queens
attended harvard, work wartime dept of finance w/ Arthur Plumtree and R.B. Bryce wrote WHITE PAPER ON EMPLOYMENT AND INCOME (1945) |
White Paper on Employment and Income | 1)canada too reliant on foreign markets 2) can work @ home to maintain prosperity
stimulate aggregate demand, change production to spending
consumer spend 2/3 all spending
people psychological & material reason to spend |
What were the three things WA mackintosh did to get canadians to spend? | 3 things to get CA to buy
a)cut tax B) cash in bonds C)family allowance |
What was Family Allowance | 1st universal social welfare measure in CA
based not on region/income but by having kids. Govt gives away over 15 million dollars and causes re-elect liberals |
What were the payments for family allowance | kid under 5-$5/month
6-9-$6/month
10-12-7.month
13-15 got 8 $/month |
Election of 1945 | WLMK get minority govt with 118 seats (sig because wartime-peacetime govt)
conservative party change to PC elect man of west John bracken to power (manitoba premier) move PC to left of center. CCF only gets 28 seats. Start of political dynasty |
Economic Boom 1945-1957 | one prosperous periods in CA hist (Laurier western settlement other). Liberalizing markets, demand management policies
econ growth of 9.5 %, ex auto industry growth and TV |
Television | spending on large consumer goods
10 inch screen black and white
large % of income
coming together because of television
change church and ed sulivan show |
baby Boom | grew out of econ prosperity and high birth rate, more poeple born in hospitals, generation drives many movments and has great power (over 5 million people) |
#births/1000 overtime | Gdepression 20/1birth/1000
1959 87.2
1963 28.5 |