Transcript Social 30-1 - SharpSchool

Social 30-1
Mr. Tulk
Unit 2 – Chapter 4 – Part 4
Words
• Labour Standards
• Feminism
Housekeeping
• What is Classical Conservatism?
• Who was a proponent of it?
• By his standards, who should run government
and why?
• How does it relate to Laissez-Faire Capitalism?
• How does it relate to Modern Liberalism and the
welfare state?
• What US Pres. Brought about this change in the
States.
Keynesian Economics
As the 1930’s and the great depression
progressed, most were at a lost of how to fix
it.
The Economy seemed to be broken.
A British Philosopher and economist developed
new ideas of how the government could run.
John Maynard Keynes
• His ideas are confusing.
• Smith argued that supply and demand would
supply jobs.
• Keyens felt this was flawed.
• At times of stress or recession people would
stop spending and save money (this happened
in the US)
• This would stop demand and eventually kill
the supply chain. (wow, he’s like a prophet!)
Continued
• He thought government regulation could solve
these problems.
• Stopping people from loosing homes, jobs,
and lively hood during a recession.
• Let’s look at page 146.
How it works
• During times of economic inflation, government
should raise interest and avoid capital works
(That’s government building things like roads)
• During times of recession government should
lower interest rates and start capital works.
• Also, destroying money during inflation.
• Wow, I’m pretty sure this guy had a time
machine!
Effects
• This would leave the monetary and freemarket system intact while helping stabilize
the system.
• Now, This is confusing…
• On a Cue Card, please paraphrase the idea of
Keyens ideas.
• You can talk to your friends.
This diagram really sums it up well!
LET’S LOOK AT PAGE 149
Keyens in the real world
• FDR (Fraklin D. Roosevelt).
• Pres. 1933-1945
• Used Keynes theory is a social program called
“the New Deal”.
• Massive Public Works.
• New Farming practices.
• Banking Reform.
• A throw back to his cousins “Square Deal”.
Continued
• By the 1950-1960’s most states had adopted the
Welfare State.
• The Government now had a role to take care of
its people.
• Hmmm. Let’s discuss the questions on Page 150.
• I’d like to talk about 1, 2, & 4.
Hmmm. Let’s have a quick game of
Smart Ask
• I think it’s a good time for review.
• It will be based on Rejections of Liberalism
and Responses to Liberalism.
• Let’s get going!