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Government Intervention In Canada

1134 Words5 Pages

History has shown individuals the different extents of government intervention and the results that come with it.The sources perspective on government intervention is that they should let individuals take care of themselves, focus on their self interest and stay out of the economy; and in times of crisis the economy will regulate itself through competition and supply and demand. The source is in favour of a capitalist economic system. A supporter of this type of economic system would be Adam Smith (introduced the idea of capitalism). Adam Smith was considered a classical liberalist just like the source, he wanted basic rights for individuals and democracy but he did not want governments to intervene in the economy. He believed that supply and …show more content…

What makes Canada impressive is the government, which provides its citizens with a safety net. For example Unemployment Insurance, pensions,etc. And Canadians are provided with universal health care (introduced by Tommy Douglas) which is funded by the people through taxes.This allows citizens to feel secure and not worry about being unable to take care themselves and their families; unlike a capitalist society which will deny you health care if you cannot afford it. In Canada they have what a capitalist society has, for example private property, supply and demand,competition but what contrasts these two economic system is that Canada has a safety net so citizens can have something to rely on in times of crisis. A capitalist such as Adam Smith would argue that people would lean on the government too much and use other individuals tax dollars to fund their needs without ever working. But in a capitalist society if citizens were in crisis they would be left to suffer, unable to provide for their families as shown during The Great Depression. Also ever since Canada shifted towards the left they never experience another depression because the government regulates the economy to ensure that the economy is stable. As you can see Canada has provided its citizens with a safety net, intervenes in the government and still have a thriving economy which invalidates the sources …show more content…

Countries around the world that witnessed this started to shift towards the left. For example Canada which has been proven to have a successful economy while still having government intervention. Undoubtedly I believe governments should provide its citizens with a safety net and regulate the economy in order to prevent “booms” and

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