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# Advantages and Disadvantages of Welfare Capitalism (Mixed Economics) **Advantages:** 1. Helps people during difficult times 2. Social programs (disabilities, welfare, pensions) 3. Began the process of stable government funding for key programs (healthcare, education) **Disadvantages:** 1. High...

# Advantages and Disadvantages of Welfare Capitalism (Mixed Economics) **Advantages:** 1. Helps people during difficult times 2. Social programs (disabilities, welfare, pensions) 3. Began the process of stable government funding for key programs (healthcare, education) **Disadvantages:** 1. High taxes 2. Deficit spending leads to debt 3. Inflation increased 4. Contrary to classical economic liberalism **Neo-Conservative Politicians** * **Margaret Thatcher (1979-1990):** Thatcherism * Reduced taxes * Deficit spending * Increased inflation * Privatized Crown corporations (e.g., British Airways, British Petroleum) * **Ronald Reagan (1981-1989):** Reaganomics * Reduced government spending (on healthcare, education) * Cut taxes for wealthy individuals (trickle-down economics) * Increased military spending * **Ralph Klein (1992-2006):** * Cut spending on education, healthcare, and infrastructure * Privatized government agencies (e.g., Alberta Liquor, Alberta Power, AGT) **Note:** The document contains handwritten notes, likely from a student taking notes during a lecture or reading. The format is not fully standardized and some phrases or key concepts are unclear.