Canada's Business Cycle

Decent Essays
Have you ever wondered how in today’s society the prices for products and services are increasing each day and the average house costs around a million and a half? People are now expecting the economy to go into a depression. This is what is called the business cycle, a cycle or series of cycles of economic expansion and contraction. The business cycle was first demonstrated the early 1900s in Canada in which it made the time period of a time of prosperity and progress for almost all Canadians. Throughout the different decades between 1900 and 1930s, Canada has progressed positively in terms of political, economic and social change. For these changes, it is safe to assume Canada “grew up” in the early 1900s.

Canada in the early 1900s was struggling
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Big amounts of silver were found in Ontario which caused the cobalt silver rush to occur. By 1908 Cobalt found in Ontario was 9% of the world’s silver, it continued to boost the Canadian economy even throughout the first world war. It helped push Canada’s economy to what it is today. As soon as the 1910s rolled in, Canada was improving and changing its economy. By the time when the war began, most of the lands central Canada had been settled on and attracting immigrants and in the same year, the Panama Canal opened which made easy trade between Canada and Britain. Both of these events boosted Canada’s economy into prosperity. The next decade was known as “The Roaring Twenties” and for good reason, Canada’s economy was highly prosperous in this decade. In 1926 the demand for Canada’s natural resources increased like lumber, and wheat, which results in the prosperity that is strong evidently found in the 1920s. As well as the demand for Canada’s natural resources, Canada’s economy had another boost which was inventions. An invention of the radio, hair dryer, and zippers; these inventions helped boost Canada’s economy to what it is today. The next decade 1930s were a decade of recession but Canada still progressed economically, even though the times were tough the people of Canada were tougher, even though ⅕ of the people of Canada were unemployed the other ⅘ had jobs. As well…show more content…
This marked the popular invention of two-way voice transmission radio when Reginald Fessenden, a Canadian-born inventor, made the first wireless radio broadcast on December 23 near Washington D.C. in the United States; Marconi, who lost out on making the first radio broadcast, succeeded in receiving the first transatlantic radio message at St. John's, Newfoundland. This event paved the way towards the invention of the radio and the modern cell phones. The next decade rolled in and along came progress and prosperity, it started when the popularity of the automobile was increasing, horse-drawn carriages were falling out of trend and automobiles replaced it as the primary
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