Download 3 - Chapter 6 Notes

Page 1 of 3
SS 30-1: Chapter 6 Notes-Part 2
The Ebb and Flow of Economic Liberalism Since the Second World War
The Postwar Consensus
Pages 214-215
What was created in England in 1948?
Why was this time known as the Postwar Consensus?
The Postwar Economy in Canada
Pages 215-216
Besides Unemployment Insurance and Family Allowances what are five other programs that were
introduced that made Canada a Welfare State?
What was happening in Quebec at this time?
Economic Crises of the 1970’s
Pages 216-217
Sum up the main issues that happened in the 1970’s.
What is stagflation?
Why was stagflation a problem for social programs?
Monetarism: Friedman and Hayek
Pages 217-218
Why did things start to shift towards Monetarism in the 1970s?
What have Ralph Klein and Stephen Harper tried to do to the economy?
What is Monetarist theory?
What does Friedman add to this theory?
What does Hayak add to this argument?
What do Hayak and Friedman share with Adam Smith?
document1
Page 2 of 3
Monetarism versus Keynesian Economics
Page 219
How was Keynesian Economics different from Monetarism?
What do Monetarists saw about Keynesian economics?
Reaganomics
Pages 220-221
What was Reaganomics?
What is supply-side economics or trickle-down economics?
How did economic data from the time not support these theories?
Britain’s Thatcherism
Page 221
How was Margaret Thatcher similar to Ronald Reagan?
What areas of the economy did Thatcher privatize?
How did she take on labour unions?
Blair’s Third Way
Page 222
In response to the Thatcher years how did Tony Blair deal with the economy? What was the Third Way?
The Netherlands’ Polder Model, Kenya’s Harambee, and Chad
Pages 222-224
What is the Polder model that was used in the Netherlands?
What is Kenya’s approach to economics?
What are the principles that underlie Harambee?
What is the situation with regards to Chad?
Economic Practices and the Principles of Liberalism
Page 225
document1
Page 3 of 3
Sweden and the United States
Page 225
How are Sweden and the United States different in their approach to economic liberalism?
Economic Liberalism Today
Pages 227-228
What is the general state of economic liberalism today?
Copy the chart from the top of page 228.
Increasing Economic Freedom-Ukraine and Mexico
Pages 228-229
How has economic freedom come about in Ukraine and Mexico?
What are the effects of this freedom?
Economic Liberalism and the Global Economy
Page 230
How is the world starting to shift in its view of the global economy and economic liberalism?
What has the election of Barack Obama done to promote this change?
document1