The Economic Benefits Of Every Nation Impacts The Quality Of Life

Since the country’s conception in 1867, Canada has lived in the shadow of it’s southerly neighbour, the United States of America. Through the years, what started out as a country with very distinct culture has morphed and become Americanized. Historically speaking, American influence has had a great economical impact on Canada. Speaking about the Americanization of Canada, Pierre Trudeau, former Prime Minister of Canada, has said, “Americans should never underestimate the constant pressure on Canada which the mere presence of the United states has produced…” This pressure has changed the way Canadians live and conduct business. This pressure has Americanized the Canadian economy. American culture has a very far reaching effect on Canada with many trickle down effects. Americanization of the Canadian economy has lead to the American control of the Canada’s corporate structure, Canadian dependence on American capital, turned the Canadian economy into a mirror image of the American economy, and has led to loss of

Canada is currently sitting at a population of over 30 million people and is ranked 11th in the world in terms of exports (Canada: Economic Freedom, 2017). The economy in the country seems to be thriving very well with many skilled workers and plenty of jobs for most individuals in the civilian labor force. For the most part, Canada has always done pretty well in terms of having a successful economy. Starting in the early 50s Canada was thriving primarily off of the waterways unlike today the country thrives off selling petroleum, cars, and other things other countries need and want. Although this shift from a farm based economy too much more industrialization did not happen until after the Great War, it wasn't until the 1920s until Canada

There is a real separation between the outstanding material resource created by the Canadian economy and the increasing monetary weakness of Canadians. we must always create conclusive move to build a certifiable economy that benefits all Canadians over the long-term.

One of the most pressing issues faced by Canada today is unemployment. In fact, reports confirm that the jobless rate continues to increase every year. As of February this year, the unemployment rate was at 7.0%. The presence of unemployment rate is evident in various provinces. In Quebec, the number of people working declined by 26,000 in February. Alternately, the number of employed in British Columbia fell by 10,000; while Saskatchewan nearly 6,000 individuals are unable to find jobs. The Conference Board of Canada projected that the country’s labour woes could reach to more than one million workers by 2020. In addition to this, experts predict that the unemployment rate in this country will surpass that of the United States. Along with the dismal figures and projections, the problem of unemployment consequently creates numerous negative consequences on the nation’s economy, its government, and of course its people. Some of the known effects of unemployment include reduced spending power, an increase in financial cost, recession, and even crimes and violence. Individually, long-term unemployment may result to depression, loss of self-respect, and strained relationships with family and friends – ultimately causing damage to the person’s overall well-being. The adverse effects of unemployment only show that this issue imposes a significant cost both on a national and individual level. As such, it is of primary importance to create an immediate plan of action to alleviate

Intro: Following the crash of the US market on October 29, 1929. Unemployment rates peaked in 1933 (500,000) which was twice of what it was in 1921. 1 in 5 people were unemployed. The great depression was devastating for Canada due to it dependency on farming natural resources. For example, Saskatchewan experienced record low prices in record history. Provincial income went down 90% within two years. This caused Canada to become an unjust society due to its actions during the depression; it’s treatment of Jewish refugees, and its detainment of Japanese Canadians.

The amount and scope of this control has been growing steadily ever since.# After the First World War, the Canadian government moved away from a laissez-faire economy, taking a more hands-on approach. The expansion of factories that had occurred during World War One allowed Canada to overproduce goods during the 1920s and they began investing in the stock market, often buying on margin that resulted in massive inflation of stock prices.# The world’s financial centre moved across the Atlantic from London to New York. The United States had become the world’s financial capital. While there are significant exceptions (e.g. Britain), generally the industrialized countries experienced an economic boom in the twenties.# Based on expanding on markets and an increased demand for consumer’s goods such as the automobile and electric appliances, economies continued to expand until 1929.# On October 29, 1929, the economic boom of the twenties abruptly came to an end. This was known as Black Tuesday, and many Canadians, particularly those who had bought on margin, lost everything. Coupled with the financial collapse of the stock market, the prairies were ravaged by a drought that lasted nearly eight years. Unemployment skyrocketed, and many Canadians “rode the rails” in search of jobs. The Great Depression lasted until Canada declared war on Germany, creating another prosperous wartime economy.# The Great Depression

In Canada, an important economic transformation accelerated as Britain was wholly supplanted by the United States as Canada's main economic partner. By the middle of the decade, economic development started to soar in Europe and the Roaring

After the gruesome war Canada had fought in, it has left the economy in pieces, many returning soldiers are unable to find a job or get resettled in the old ones they had left. Many women that had contributed greatly during the war are left in the dust as soon as the war had ended. Canada’s economy will slowly repair itself, though it will take a long time.

Department of Finance Canada (2009) states Canada has been significantly affected by the global recession and Canadian economy growth began to slow in the fourth quarter of 2008. Real GDP declined by 3.7 percent in the fourth quarter of 2008. Although Canadian economy is being affected by the global recession, the Canadian economy is still better than other industrialized countries (CMA Business Case)

The economy started to improve because more jobs were being held and the output of supply was increasing. Canada’s involvement in the war helped it gain political ground which helped the country positively overall. At the beginning over thirty thousand men had enlisted in the army. All kinds of Canadian people from the Aboriginal people to the women helped during the war. Despite not being properly

Canada’s economy boosted immensely after WW2. Due to Canada’s boost in the industrial economy and it’s status in WWII there were many job opportunities available. Canada’s most important sector in its economy was agriculture. Canada supplied many resources and raw materials to the war resulting in an economy boom, however they still had their debt of over $10 million dollars. The need of many supplies for the war had resulted in mass productivity of many factories across the country.

400, 000 jobs were lost across the country as every single sector, such as retail, manufacturing, transportation, natural resources, construction and warehousing trade had either lost profits or drastically cut employee wages. This had numerous effects since apart from increasing the unemployment rate to an all-time high, the Canadian Economic Observor reported that households all over Canada lost more than 8% of their net income and incurred about 2% of debit. Also, many obstacles arose for those attempting to get out of the financial crisis which got stronger by each passing month, such as how countless employees were not able to collect their worker benefits and pensions had been cut. With the development of new issues in the wake of the financial collapse, Canadians had looked toward the government for solutions, but had no success. Along with the federal government denying that Canada was in a recession for the majority of it, Stephen Harper proposed that Canadians should invest in the stock market even though it was facing historic lows and was slow in taking action to strengthen Canada’s economy.

Canada’s economy was once solely reliant on the exportation of raw materials, such as furs and timber, to Great Britain and Western Europe. Aside from this exportation of raw materials, Canada was largely agricultural in nature. By the time of Confederation, fifty-percent of labour remained agriculturally based (Krahn, Lowe, Hughes, 2008). Changes occurred around 1900; the industrial era replaced the once mainly agricultural and small-scale local production of times past by way of new technologies in the form of electricity, steam powered engines, railways, water wheels, etc. These tools allowed for the re-organization of work from piecework and compensation, based on individual output, to one of large manufacturing plants, high-production, specialized workers, and hourly pay. This industrial era has now morphed into one of new technologies and new careers; careers based in services. The dominance of a service-based economy is prevalent as around 75% of all employment in Canada was in services circa 2005(HRSDC,

Canada is one of the mightiest countries in the world due to its many unique characters. In the context of economy Canada is a leading competitor for many other giants in the world. As country there are many things to boast about Canada. Natural resources, healthcare, arts, music, and many more made Canada very much popular among other nations. This report discusses and analyse the political, economic and legal characteristics of Canada and its effect on doing business there in briefly.

     Over the past few years, Canada's economy has done comparatively well and has demonstrated some resilience to the fluctuating global economy. However, Canada remains to be relatively less competitive with respect to other developed countries. In this paper I will attempt to take a closer look at Canada's position in the global economy today and examine the relevant issues.