The Great Depression hit Canada hard. The freezing of the global trading system resulting from American protectionism hurt the resource, export-based economy greatly. Unemployment skyrocketed, and the government was left with few options and even fewer plans. The federal debt only grew, as tax revenue dropped in the face of falling employment, wages, and deflation.
The experiences of the Great Depression and the Second World War changed the previously capitalist liberal democracy that Canada had been. In turn, the nation embraced a new form economic thinking: Keynesianism. Based on the writings of British economist John Maynard Keynes, this new economic school of thought aimed to stabilize the economy. Instead of allowing huge periods of
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Yet, they did not persist, as the Harper government was able to get back to a surplus as it was voted out by Justin Trudeau in 2015.
That is where Canadians find themselves today, as deficit spending returns with the new Liberal government. And as the government forecasts higher debt burdens, it is unknown if Canada will ever be “an honorary member of the Third World.”
A New Generation, a New Debate?
The debate between federal deficits and spending is centred around the size of government. Should the government be larger, or should it be smaller? The answer to this question and the deficit debate depends on ideology.
The main proponents supporting greater spending in Canada are the political left, including the New Democratic Party and the Liberal Party.
The NDP, a social democratic party, views the welfare state as the key to reducing inequality, expanding freedoms, and promoting democracy. Increasing taxes to increase public programs can, in the social democratic view, redistribute wealth from the rich to the
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The key criticism of the welfare state is that it is too great a burden on the state and the taxpayer. However, there has been support among conservatives for minimum wages, which they see as a minimally intrusive regulation.
These varying views on the size of the government create a very partisan debate. Yet, as illustrated by the previously mentioned Forum Research poll, Canadians are conflicted on the trade-off. Although the majority wants a balanced budget, there is still staunch support across the board for specific spending increases.
Justin Trudeau has stayed on the side of spending increases from the start of his term as Prime Minister. In fact, the Fraser Institute, a non-partisan think tank, reports that Trudeau is on track to set a record for largest federal debt increase for a PM not encumbered by war or recession.
It is impossible to argue that federal deficits by themselves are good. They should be avoided. However, when coupled with increased public services and programs, the costs can be offset. By running a deficit today, Trudeau is betting on increased productivity and economic growth to make any debt today cheap in the
During the Great Depression of the 1930's, Canada's Prairie provinces suffered more than any other area in Canada. This time frame brought for the farmers many years of droughts and grasshopper plagues, as each year got worse without any rainfall whatsoever. The impact of the Great Depression on the Prairie provinces was devastating and it's impact on the region was social, political and economical. During this period unemployment reached high levels, prices of products were falling and purchasing power was getting very weak. To try to help out unemployed people, mostly men, the government introduced relief camps.
The depression years of 1929 - 1939 proved to be the worst, and some of the best years for Canada and Canadians. It was a time of extreme highs and lows socially, emotionally, and economically. It was a time that Canada came into her own being on the world wide stage.
Franklin D. Roosevelt, president of the united states from 1933 to 1945 (and the distant cousin of Theodore Roosevelt), was the first to convert to Keynes’s theories. He implemented massive public works programs to put people to work. Called the “New Deal”, an echo of Theodore Roosevelt’s square deal, it consisted of a series of programs from 1933 to 1938. As well as providing employment through massive works projects such as the Tennessee valley authority, which built dams to generate electricity. New deal programs provided emergency relief, reformed the banking system, and tried to invigorate agriculture and the economy. Many other programs were also put into place with were used to attemp...
On the day of October 29, 1929 the Great Depression had begun. This was due to the worth of the New York stock market falling intensely. The Great Depression was a time when Canadians suffered extraordinary levels of poverty due to unemployment. It shaped Canadian’s political views, and also their views about their country and role of the government. Canadians joined together in various new political parties, labor groups and other organizations that represented detailed regional, economic or political interest. Canadians scrambled through the crisis with a makeshift blend of private and public charity. Private Citizens in wealthier provinces recognized the dilemma of Saskatchewan and sent hundreds of carloads of fruit, vegetables and clothing westward. This showed that Canada is a crew of kind and supportive individuals.
The Great Depression was a terrible point in Canadian history, and for most of the world. It was a point in time where thousands of people lost their jobs, and even lost their homes because of the depressed economy. Business was booming in the early 1920s, but when companies tried to expand, and therefore issued stocks, the economy was thrown off. Some investors sold their stocks for high prices, and as a result, everyone else followed. With less of a demand, stock prices became fractions of what they used to be, and on October 29, 1929, the New York Stock Exchange collapsed, followed by the Toronto and Montreal Stock exchanges. This collapse of the stock markets caused a depression like which the world had never seen before. It was important for governments to find methods to deal with the depression, but the Canadian government wasn't very successful in its attempts to deal with the Great Depression.
Canada suffered its longest and most terrible economic depression in its history between 1929 and 1939. It is now known as the Great Depression. This essay will demonstrate the major causes, political, economic and social consequences, and the government’s solutions from the Great Depression. The Great Depression affected all of Canada and is a key part of our history. It is important that we learn from it so we can prevent it from happening again.
There are many more examples of conflicts between Trudeau's thoughts and his actions. For instance, Trudeau has always been uncomfortable with excessive state intervention in the economy. For this reason he has consistently opposed the imposition of price and income controls. But this did not stop him from deciding, in 1975, that a lack of responsibility on the part of business and labour necessitated the introduction of a controls system. Trudeau has spoken of the need for a shift of emphasis in Canadian society from consumption to conservation. And yet, he allowed energy-conservation measures in Canada to fall far behind those of the United States. More than a few times, Trudeau has insisted that it is our moral obligation as Canadians to share our wealth with poorer nations. Nevertheless, he still reduced foreign-aid spending and even put a protective quota on textile imports from developing countries. Trudeau has written about the importance of consensus in government. But again, this did not prevent him, on more than a few occasions, from entirely disregarding the consensus of his cabinet ministers on a given issue, preferring instead to make the decision on his own.
Newman, Garfield et al. Canada A Nation Unfolding. Toronto: Mc Graw – Hill Ryerson Limited, 2000.
The post-war time was a period where major changes were occurring. After being involved in two international conflicts, Canada was ready to reestablish their economy. During this time, Canada had started working on ways to become stronger and reputable. It is evident that Canada had matured through the post-war era. Canada’s economic progress left a positive impact on the growth of the country as consumerism became popular, and economic ties with America became stronger. Moreover, the removal of racial and ethical barriers contributed to Canadian social affairs such as the huge wave of immigration and the baby boom. The Canadian government also had become more aware and involved in issues impacting Canadian citizens. Canada as a whole started identifying itself as an independent nation and participating in events that brought a positive reputation amongst them. These economical, social, and legal changes helped Canada mature into the country it is today.
The Great Depression was a period, which seemed to go out of control. The crashing of the stock markets left most Canadians unemployed and in debt, prairie farmers suffered immensely with the inability to produce valuable crops, and the Canadian Government and World War II became influential factors in the ending of the Great Depression.
”Families, tribes, dusted out, tractored out. Car-loads, caravans, homeless and hungry; twenty thousand and fifty thousand and a hundred thousand and two hundred thousand. They streamed over the mountains, hungry and restless — restless as ants, scurrying to find work to do — to lift, to push, to pull, to pick, to cut — anything, any burden to bear, for food. The kids are hungry. We got no place to live. Like ants scurrying for work, for food, and most of all for land. “
The Great Depression was not just a little event in history, hence the word “great”, but a major economical setback that would change Canada, and the world, forever. The word “great” may not mean the same thing it does now; an example of this is the ‘Great’ War. These events were not ‘good’ or ‘accomplishing’ in any way, quite the opposite, but in those times it most likely meant ‘big’. What made it big are many factors, both in the 20’s and 30’s, which can be categorized into three main points: economics, politics and society. With all these events, compressed into ten years, this period of economic hardship of the 1930’s truly deserves the title the “Great Depression”.
The United States is often referred to as a ‘reluctant welfare state.’ There are various reasons for this description. One of the primary reasons for this is the differences and diversity of the political parties which are the motivating forces that control government. The Liberal Party, for instance supports government safety nets and social service programs for those in need. “Liberals believe in government action to achieve equal opportunity and equality for all.” ("Studentnews," 2006) They believe it is the responsibility of government to ensure that the needs of all citizens are met, and to intervene to solve problems. The responsibility of government is to alleviate social ills, to protect civil liberties and sustain individual and human rights. Liberals support most social and human service programs; such as TANF, including long-term welfare, housing programs, government regulated health care, Medicare, Medicaid, social security, and educational funding. Their goal is to create programs that promote equal opportunity regardless of gender, age, race, orientation, nationality or religion, along with many others. Liberals believe that government participation is essential and a means to bring about fairness and justice to the American way of life.
People outside of Canada are baffled at how Canada ended up in such a state of affairs. Canada as a country has a lot going for it. A high GNP, and high per capita income in international terms. It is ranked at the top of the...
A gang is a gathering of cohorting people or close companions with indistinguishable initiative and inner association that captivate either exclusively or all things considered in vicious or different types of unlawful conduct. Despite the fact that packs exist globally, there is a more amazing number in study and proficient data of groups particularly in the United States. Gangs are usually in the larger cities and urban areas in the U.S., also in smaller towns and suburbs, while a lot of the branches of the original gang are present in prisons or jails. American gangs originated in New York in the 1900’s. The gangs competed with one another for various reasons such as during the prohibition era for control over illegal drinks; they’d often beat or even murder an opposing gang member for attempting to sell or distribute illegal liquor on their “turf”. This resulted in a “war” between the opposing gangs. Gang members usually recruit who they want to join the gang. After they’re jumped in – which means they’ll have to go one on one with each of the already proposed gang members and succeed, or have to prove their loyalty by committing acts such as theft or violence. The potential gang member has to show that they have what it takes. In certain gangs, those who avoid the initiation are among those you call “blessed in” meaning they have a family member in the gang. Joining is basically giving up your rights to being by yourself or having to keep things to yourself. Loyalty is a key when you’re in the process of joining a gang. A gang leader is the person you would have to check with regarding anything concerning the gang. Joining a gang is a long extensive process; you could get hurt and even killed while going through it.