Browse "Economic"

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Bennett's New Deal

In the mid-1930s, at the height of the Great Depression, Prime Minister R.B. Bennett’s political demise seemed inevitable. He sought to reverse the tide running against his Conservative Party. In January 1935, he began a series of live radio speeches outlining a “New Deal” for Canada. He promised a more progressive taxation system; a maximum work week; a minimum wage; closer regulation of working conditions; unemployment insurance; health and accident insurance; a revised old-age pension; and agricultural support programs. But Bennett’s 11th-hour proposals were seen as too-little, too-late. He lost the 1935 election to William Lyon Mackenzie King and the Liberals.
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Candy Bar Protest

The Candy Bar Protest, also known as the Five Cent War, Candy Bar War, Candy Bar Strike, or the Chocolate Candy Bar Strike, was a protest that took place in the spring of 1947. Children in numerous Canadian cities organized public protests or boycotts against the rise of chocolate bar prices (see Confectionery Industry). The protest was generally well-received by the Canadian public, but it fell apart after unsubstantiated allegations that the effort was backed by communists. (See also Communist Party of Canada.)
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Capitalism in Canada

Capitalism is an economic system in which private owners control a country’s trade and business sector for their personal profit. It contrasts with communism, in which property effectively belongs to the state (see also Marxism). Canada has a “mixed” economy, positioned between these extremes. The three levels of government decide how to allocate much of the country’s wealth through taxing and spending.
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Economic History of Canada

The economic history of what is now Canada begins with the hunting, farming and trading societies of the Indigenous peoples. Following the arrival of Europeans in the 16th century, the economy has undergone a series of seismic shifts, marked by the early Atlantic fishery, the transcontinental fur trade, then rapid urbanization, industrialization and technological change. Although different industries have come and gone, Canada’s reliance on natural resources — from fur to timber to minerals to oil, and on export markets for these commodities, particularly the United States — has underpinned much of the economy through the centuries and does so still in many regions today.
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Economic History of Atlantic Canada

Nova Scotia, Prince Edward Island, New Brunswick and Newfoundland constitute the Atlantic provinces of Canada, a region that in 2016 accounted for 6 per cent of Canada’s gross domestic product (GDP). The economic history of what is now Atlantic Canada begins with the hunting, farming and trading societies of the Indigenous peoples. Following the arrival of Europeans in the 16th century, the economy has undergone a series of seismic shifts, marked by the early Atlantic fishery, the transcontinental fur trade, then rapid urbanization, industrialization and technological change.
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Economic History of Central Canada

Ontario and Quebec constitute Central Canada, a region that accounts for over 58 per cent of Canada’s gross domestic product (GDP). The economic history of the region begins with the hunting, farming and trading societies of the Indigenous peoples. Following the arrival of Europeans in the 16th century, the economy has undergone a series of seismic shifts, marked by the transcontinental fur trade, then rapid urbanization, industrialization and technological change.
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Economic History of Western Canada

Manitoba, Saskatchewan, Alberta and British Columbia constitute Western Canada, a region that accounts for 35 per cent of the Canada’s gross domestic product (GDP). The economic history of the region begins with the hunting, farming and trading societies of the Indigenous peoples. Following the arrival of Europeans in the 18th century, the economy has undergone a series of seismic shifts, marked by the transcontinental fur trade, then rapid urbanization, industrialization and technological change.
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HBC Trading Posts in Canada

From 1670 until 1987, the Hudson’s Bay Company (HBC) operated hundreds of trading posts in various parts of Canada and the northwestern US. During the fur trade, Indigenous trappers visited trading posts to exchange furs for valued goods produced by Europeans, including metal objects, weapons and glass beads. In 1870, the HBC’s vast territory of northern wilderness (see Rupert’s Land and North-Western Territories) was transferred to the Canadian government, and the HBC gradually transitioned from a fur trading company to a retail establishment. The HBC maintained posts in Northern Canada, however, until 1987. Some settlements that remained in and around the old trading posts developed into cities, such as Winnipeg (Fort Garry), Edmonton (Fort Edmonton) and Victoria (Fort Victoria). Some First Nations that had established themselves near HBC posts also have names that reflect their fur trading history, including Fort Albany First Nation in Ontario and Fort McKay First Nation in Alberta.
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Trade Goods of the Fur Trade

During the fur trade in Canada, items of European manufacture (historically referred to in the literature as Indian trade goods) were traded with Indigenous peoples for furs. These items include, for example, metal objects, weapons and glass beads. (See also Trade Silver.) In various ways, however, cultural exchanges went both ways. Some Europeans, namely the voyageurs, adopted various Indigenous technologies and clothing during the fur trade, including the use of moccasins, buckskin pants and hats, and snowshoes.
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Trade Silver

Gifts of silver were presented and traded to Indigenous peoples in Canada by European fur traders. Trade silver was made by silversmiths in Quebec City, Montreal, London and various American cities, including New York, Philadelphia and Detroit. (See also Fur Trade in Canada and Trade Goods of the Fur Trade.)
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Industrialization in Canada

Industrialization is a process of economic and social change. It is one that shifts the centres of economic activity onto the focus of work, wages and incomes. These changes took two forms in Canada, beginning in the 19th century. First, economic and social activities were transformed from agriculture and natural resource extraction to manufacturing and services. Second, economic and social activities shifted from rural cottage industries to urban industrial pursuits. Industrialized production took place under the privately owned factory system, in which a larger proportion of the population expected to be wage earners for all of their working lives. Therefore, industrialization brought major changes, not only in work and the economy, but in the way society was organized and in the relations among different groups in society. Although it has evolved over nearly two centuries, the process of industrialization is considered revolutionary — as the term Industrial Revolution suggests — because it marked the shift from feudalism to capitalism, and from agriculture to manufacturing and services — changes that fundamentally altered human existence. This is the full-length entry about Industrialization in Canada. For a plain-language summary, please see Industrialization in Canada (Plain-Language Summary).
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Laurentian Thesis

The Laurentian thesis is an influential theory of Canadian history. It was developed by several historians in the early and middle decades of the 20th century. It posits that Canada’s development was a result of the economic exploitation of staple resources (e.g., fur, timber, wheat, etc.) by a merchant class living in the major centres along the St. Lawrence River and the Great Lakes. This system enabled the creation of both a transatlantic and a transcontinental market economy. The Laurentian thesis was a major influence on historians after the Second World War.
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Moosehead Breweries Ltd.

Moosehead Breweries Limited, the maker of Moosehead Canadian Lager, is the oldest family-owned brewing company in Canada. Located in Saint John, New Brunswick, the company has been family owned and controlled for six generations and is currently led by founders Susannah and John Oland’s great-great-great grandson, Andrew Oland. Moosehead is the fourth-largest brewing company in Canada — after Molson, Labatt and Sleeman — and the last major brewery to be owned by Canadians. Moosehead beer is sold throughout Canada, in many locations in the United States, and in 15 countries around the world. The company brews 19 beers under 10 brands, including its mainstay Moosehead Canadian Lager, as well as James Ready, Alpine and Hop City. It also contract brews for six companies, including Samuel Adams, from the United States, and Estrella Damm, from Spain. Moosehead is a privately owned company and does not disclose its financial information; however, in 2018, market researchers estimated the company held as high as 3.8 per cent of the Canadian beer market and would generate $247.1 million in revenue.
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Reconstruction

Reconstruction is the process of readjustment to a peacetime economy following WWII. Many believed the end of the war would mean a return to the economic depression of the 1930s, with falling production and widespread unemployment.
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Revolutionary Industrial Unionism

Revolutionary industrial unionism, or syndicalism, a broad international movement dedicated to organizing all workers into single, unified labour organizations designed to overthrow the capitalist system by means of industrial actions, including the general strike.
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