Papers > Politics > Neoliberalism and Keynesianism in Canada
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Neoliberalism and Keynesianism in Canada
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Since the development of neoliberalism there has slowly been a shift away from the Keynesian Welfare State in Canada. During the 50’s and 60’s Keynesianism was the answer for Canada’s economic woes, however by the mid-70’s it simply wasn’t functioning efficiently anymore. Three main dimensions of the welfare state that were threatened by this shift towards neoliberalism were Medicare, Post secondary education and the Canadian assistance plan. The nature of neoliberalism means a gradual decline in federal spending for public programs, and widespread privatization of government owned companies and institutions. Since moving away from Keynesianism the Canadian Welfare State and Canadian citizens have suffered the wrath of a completely profit driven government.
Canada has been one of the most Keynesian countries in the world. ... But in the early 1970’s Canada began to experience high and rising levels of unemployment and rising levels of inflation at the same time. ... People who had never been comfortable with the Keynesian model were quick to proclaim that Keynesianism had failed.
However it wasn’t completely a problem with Keynesianism, main aspects of Canadian life had also changed. ... However the truth was that times were changing and Canada also had to change, moving away from the Keynesian model was the only logical solution, Canada couldn’t afford to spend as much on welfare without having to cut funds from other areas. ... Under the Canada Assistance Plan, the federal government shares 50% of the cost of eligible welfare spending with the provinces. When established in 1966 the Canada Assistance Plan was a major staple in continuing the economic boom in Canada. The Canada Assistance Plan was intended to contribute towards the modernization of the social assistance system in Canada. ... The Canada Assistance Plan was also to ensure that there would be a national system available to all without regard for residence, eliminate work for welfare and provide retraining for entry into the labour force. ... The goals of the Canada Assistance Plan worked well until Canada was struck by economically unfavourable times. From the late 1970’s until the early 1990’s the Canada Assistance Plan was placed under incredible stress and was hindering the economy rather than encouraging it. In 1990 the Federal government unilaterally announced that it was imposing a ceiling of 5 percent in the Canada Assistance Plan payments to the wealthy provinces of Alberta, British Colombia and Ontario.
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Paper Information
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Title: Neoliberalism and Keynesianism in Canada
Words: 1991
Rating: None
Pages: 8
submitted by: olechna
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