In the Long Run We're All Dead: The Canadian Turn to Fiscal Restraint

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UBC Press, Nov 1, 2003 - Education - 288 pages
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Canadian politics in the 1990s were characterized by an unwavering focus on the deficit. At the beginning of the decade it seemed that fiscal deficits were intractable, a fait accompli of Canadian politics. Yet by the end of the decade, remarkably, Ottawa had eradicated its budgetary shortfalls. How such a radical change of political course came to pass is still not well understood.

In the Long Run We're All Dead offers the first comprehensive account of this vital public policy issue. Lewis deftly analyses the history of deficit finance from before Confederation, through Canada's postwar Keynesianism, to the retrenchment of the Mulroney and Chretien years. He illuminates how the political conditions for Ottawa's deficit elimination in the 1990s materialized after more than twenty consecutive years in the red, and how the decline of Canadian Keynesianism has made way for the emergence of politics organized on the basis of balanced budgets.

This important book provides scholars and students of Canadian politics with a new framework by which to understand the adoption of government policy, the economic and fiscal legacy of the Mulroney administrations, and the emergence of the new politics of surplus. Essential for anyone needing to be well informed about Canadian politics, political economy, and public policy.

 

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Contents

Deficit Finance in Historical Perspective
22
The Political Economy of Economic Decline
45
Persisting Keynesian Conceptualizations
65
Restructuring Power Relations
90
The Priority of Structural Reform 198493
113
Economic Insecurity and the Political Conditions
143
Only Nixon Can Go to China 19938
164
Maynard Where Art Thou?
191
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About the author (2003)

Timothy Lewis has a Ph.D. in political science and a law degree from the University of Toronto. He has worked in both the private and public sectors.

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