Create a new account

It's simple, and free.

The Canadian Economy

The idea that the Canadian economy has largely been a "staples" economy reflects the view that Canadians are generally conservative in terms of economic development and economic change. Canada's was a resource-based economy, and at the time of Confederation some 16 percent of the labor force was working in what could be called very simple fabricating activities, catering largely to local markets and drawing heavily on native raw materials. Secondary industries also were subsistence based, such as the manufacture of agricultural implements, furniture, matches, machinery and tools, woollen goods, along with shipbuilding, flour milling, sugar-refining, salt-works, and brewing and distilling. Canadian industrialization and economic growth in the period after Confederation were limited by three factors: 1) a persistent decline in international prices that reduced the proceeds from Canadian exports; 2) a significant drop in international lending, which aggravated the existing shortage of capital even more; and 3) a low level of investment in most sectors, as business had little incentive to expand capital facilities in view of certain market prospects and unsettled economic conditions.

Canada has a region it considers its heartland, a region with a large share of the nation's population and economic activity. This region, the national core, has served as the central basis for the development of the country. The area is southern Ontario and southern Quebec, and it is an area that contains disproportionate shares of the urban population and national industrial capacity as well. Three themes have been suggested as deriving from this region. The first is that this is a region with a relatively small size, raising the question of what factors have combined to restrict growth in the core to this limited territory. It would usually be expected that a region that is the development hearth of a rapidly growing and prosperous country sh...

Page 1 of 6 Next >

More on The Canadian Economy...

Loading...
APA     MLA     Chicago
The Canadian Economy. (1969, December 31). In LotsofEssays.com. Retrieved 10:33, March 28, 2024, from https://www.lotsofessays.com/viewpaper/1682910.html