PROMOTING ECONOMIC EQUALITY How far should government go

PROMOTING ECONOMIC EQUALITY How far should government go when promoting economic equality?

Close to home: reality of LIVING IN CALGARY Compare the statistics provided in the chart. How much money is left for food, clothing, entertainment, personal taxes or savings? � 2007 - Living in Calgary �Rent Minimum Wage FT Job �$13 087/yr $16 640

What does economic equality mean?

COMPETITION p 310 �- A key value of liberalism �-How can it lead to inequality?

Canada Gets a “C” for income equality – see chart and info on p 315 �Is it up to the government or is it up to the individual to address economic inequality?

7 WAYS IN WHICH GOV’TS HAVE PROMOTED EC EQUALITY

1. HUMAN RIGHTS ACT Canada �Page 322 - look at the quote in the middle of the page, and make some point form notes about the Canadian Human Rights Act

2. Quiet Revolution - Canada �Page �-1960 322 – take notes that include – 1970 �-Government took control of education to do the following things: �-preparing students to better… �-more accessible Francophone…. �-create more ec. Equal opportunity for…

3. Affirmative Action……. .

USA – Affirmative Action �No barriers should stand in the way of any individual who wants to achieve economic success. �Affirmative Action – born out of the Civil Rights Movement of the early 1960’s. � Hiring and employment practices were to be free of racial and gender discrimination.

What do you think of Affirmative Action? �What are the �Positive effects? �The negative �Effects? �Read p 324 – �respond to #3.

4. Keynesian Economics USA � � � Many opponents of classical liberal values (economic freedom, self-interest, competition, and private property) point out liberalism is an ideology that allows individuals to accumulate all the wealth they can, and forget about the welfare of others. John Maynard Keynes 1936 pushed for a more equitable distribution of money than that experienced during the Roaring 20 s. During the Great Depression over 25% of the workers were unemployed, banks were closing, and wages dropped 43% between 1929 to 1933. While Andrew Carnegie and other “captains of industry” amassed huge fortunes, Keynes and others concluded that economies based on complete economic freedom were not workable. Rather most economies should have a mixture of private and public enterprises in order to benefit the people.

Encourage spending over saving AND support redistribution of wealth �MAN OF WISDOM DURING TIMES OF RECESSION

5. FDR - Roosevelt NEW DEAL

New Deal �-Gov’t intervention to address the economic crisis of the Depression. �-spent large public works projects so that many people were able to work again and earn money. (massive deficit spending)

6. Progressive Taxation

Progressive Taxation �Make a T Chart to display the positive and negative of progressive taxation. �P 330

7. Social Safety Net - Social Programs �Social policies reflect on the need for common good �What are some examples of social support in Canada? �What is a social safety net ( p 333)?

WRITING ASSIGNMENT �Type 2 essay - 20 – format, 5 - outline �Economics – use your Soc St knowledge from this Chapter!!!!!!