Economic policy generally takes years to develop, but crises can speed up the process. That can be both good and bad.
For instance, Canada’s first attempt at unemployment insurance appeared in 1935 as part of R.B. Bennett’s response to the Great Depression. Benefits grew progressively generous, but in 1971 politicians got carried away: an overhaul of the program made it so that a person who worked eight weeks in some regions could qualify for 42 weeks of jobless payments.
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