Focusing on the Depression, Second World War, and early post-War period, Robert Ascah examines the interaction of politics and capital markets in Canada from the perspective of the debt management function. Ascah's insightful study explores the Dominion Government's dealings with domestic and international finance capital and their reaction to the policies of Alberta's Social Credit government, and in particular the April 1936 default.
Through the window of history, Politics and Public Debt examines the influence of debt-holders over fiscal and economic policy-making by Canadian governments. Robert Ascah focuses on debt management issues faced by the Canadian government between 1930 and 1952, a time shaped by stresses of depression, war, and reconstruction. He takes special note of Alberta's historic default of 1936, an event as little known as it was defining for both the province's finances and the country's. In Politics and Public Debt, economists, political scientists, bankers, investors, historians, and students interested in Canadian politics, government and the future of public finance will find valuable background and perspective on a subject that affects us all.