Economics

1. Economics Left-wing Right-wing • Support government owned corporations (crown corporations) • Utility companies (Ontario Hydro • Oil/gas companies (Petro Canada) • Transport companies (Air Canada) • Strong government regulation (industry standards, consumer protection) • Purpose is to create a more egalitarian society (taxes used to provide resources to all) • Little to no government involvement • ‘Invisible hand’ guides the market (idea that markets will self-regulate) • Laissez-faire economics (buyer beware) • Free choice between consumer and producers leads to efficient functioning of the markets (i.e., produce efficiently to maximize profits, and sell at low prices to undercut competition)

2. Social Libertarian Authoritarian • Gov’t should have little social control • “Keep out of the bedrooms of the people” • Focus on individual liberty (freedom of thought and action • Government has social control • i.e., immigration policies, marriage, education, healthcare, pension • Submission to authority • Political power is concentrated in one leader