canada responds to ecommic crisis.

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Good morning Cananada!

For the past few months, Canada has been going through an ongoing pandemic, lockdowns, travel restrictions and social distancing have been enforced. These rules were applied in order to minimize the spread of this viral disease. Many citizens have lost their jobs, supply chains are running out of exports, and businesses have slowed down severely! Restaurants, retail stores, and other small businesses have been forced to shut down. The stock market is losing its value due to the economic crisis. There has been  an increase in demand for medical supply caused by an overboard amount of sick patients. The Canadian nation is demanding answers. what is the government going to do?

The prime minister says, “As the leader of this country, it is my duty to help rescue this economy. I am willing to put my all in order for this economy to be great again. It is also with your willingness to see my vision and trust me with this process. Moving forward, we will strengthen our mixed economy system to be able to get back on track.” 

He implies that he will start off with helping the citizens and residents who have lost their jobs during this crisis. The government will provide them with income support until the pandemic is over, and they are able to get back on their feet. This tactic will increase consumer spending, support businesses, jobs, and reduce poverty. Overall, this will encourage the economic recovery the country is looking for. He emphasises he can not forget the small businesses as well. They will be funding these businesses in order for the economy to increase. And for the healthcare workers, they will be hiring more for the sake of making sure no one is overworked. To also ensure they are receiving mental day breaks. The government of Canada will be funding a lot more money than usual to the hospitals for the purpose of purchasing ventilators, medical equipment, and all the other important supplies a hospital is required to have. This is with the intention of creating jobs, protecting healthcare workers, and, most importantly, a faster recovery.

The prime minister is leaning towards increasing government intervention. A system such as a mixed economy, which we already have, but he will be intervening a bit more than usual to make sure we have the recovery we are looking for. This is more of an individualistic and  collectivist approach. Ensuring everyone is working together for the greater good of the population. In this case, we as a nation are going to cooperate with one another, follow the protocols, and strengthen the economy to get the outcome we are looking for. As well as ensuring everyone has their individual rights in the midst of this crisis. This plan will help with spending, since people are already struggling to get basic needs. Starting off with funding businesses and hospitals, creating more jobs, which can lead the country to spend more, which can result in businesses thriving again. Not only will the government help fund businesses, but it will allow them to maintain private ownership even with a collectivist responsibility. John Stuart Mill's philosophical ideas are similar to this. He believed in helping others for the greater good, individual freedom, government intervention, Social equality, and private ownership. If John Stewart was here in this time of our crisis,  he would advise the government to intervene without really taking away anyone’s individual rights in hopes of getting life back to normal. The idea of a mixed economy can be used because it has worked before during the Great Recession of 2008 in Canada. They used the same economic measures by funding education, helping businesses, jobs, and infrastructure. As a result, it created more jobs and supply for goods and services that were in demand. This restored the Canadian economy to a better state. 

Although I can acknowledge that having the country fund many different things can leave the country in debt, I can see the perspective of citizens who disagree with the prime minister's idea. Debt can really set us back to square one if this idea isn't executed properly. 

However, if we keep allowing businesses to shut down, many more Canadian citizens will be unemployed. As a result, it can cause the economy to completely crash. If we went with a free market route, we would have numerous unemployed, struggling citizens, which may lead to homelessness. Now, if we lean far left, a communist system can cause citizens to lose their individual rights to ownership. Therefore, I support the idea that the best plan for the country as of right now is the mixed economy plan with the intention of reviving the economy.

The prime minister concluded his speech by stating, "Not only are we here to save the economy but to make sure everyone's well being is being protected".

 

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