A look at why Canadians lost faith in Keynesian economics in the 1970s.
Written in 2006; 900 words; 2 sources; $ 35.95
Paper Summary:
During the 1970s people in Canada (and elsewhere) lost faith in Keynesian economics, laying the groundwork for the decline of the Keynesian welfare state, and the rise of neo-liberalism. Neoliberalism favoured the unfettered economic power of private property, and the rise of neo-liberalism signaled the beginning of the globalization of the world economy. This change was therefore a dramatic and important shift, which continues to impact our world profoundly today. This essay examines the reasons for the loss of faith in Keynesian economics in the 1970s in Canada.
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