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Economic impacts of WWI on Canada
Effect of world war 2 in canada on economic growth
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The end of World War II came not only with the return of the soldiers and loved ones, but a general optimism towards Canada's revival. It came with a sense of better times and prosperity that would help re-establish a nation that was superior to the one before it. It was this optimism that fuelled a period of economic growth for the Canadian economy that came through the creation of suburbs, a higher GDP and the introduction of the baby boomers. Needless to say, it was this period that would help to set the foundation of the vast Canadian economy that sprouts today.
The return of the veterans came in such huge influxes that the simple metropolis could not compensate. The issue of where to house these war heroes was one prominent throughout
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As a result the gross domestic product (GDP) started to grow significantly. The economy was expanding, and with it was Canada's manufacturing identity. From being a primary source of agricultural resources, the trend shifted to oil, gas, potash, and other natural resources, all giving Canada a new industrial edge and an impressive foreign impression. Consequently, there was fairer distribution of income because of which more families started to achieve the middle class status. This fuelled a greater desire of having the latest household conveniences and luxuries which stimulated Canada's retail market and increased the standard of living. In addition, this post-war period brought about a structural reform whereby both men and women were entering the job market. In fact, between 1940-1950, wages of men increased by 34% where that of women increased by 56%. Overall this brought about an optimism that corresponded to the luxurious …show more content…
This period, that lasted 20 years, consisted of over 8.2 million baby births, and needless to say, the baby boomers, or 'generation X,' had a significant impact on Canada's economy. The population was characterized for their unique desires that shifted the traditional manufacturing business to opt on diversifying products and services that could cater to these unique wants. This also resulted in a time of technological innovation because 'generation X' was highly influenced by technology. As a result, Canadian businesses saw more conglomerates and mergers that brought attention to foreign investors and developed international business relations. In fact the flourishing of conglomerate businesses was so profound in the 60's, appropriately naming that period, 'The Conglomerate Boom.' Not only did the baby boomers impact the diversification of manufacturing businesses but the job sector as well. As the economy shifted into a more innovative and complex phase, this generation saw the necessity to gain more education to obtain skilled jobs. Because of this, the number of graduates with university degrees significantly and, correspondingly, the number of skilled labor opportunities. With the wages increasing as well as jobs, this generation capitalized hence enhancing Canada's white collar
pillars of the country during the war because most of the men were away from home fighting.
The 1920’s were a period of growth for the world economy as many people experienced great deals of increase with respect wealth as well as technological advancements and electricity, which became crucial living standard in countries such as Canada. A boom in the Canadian economy during this time was a result of middle and lower class families increasing their consumption of mass-produced consumer based items. During this time P.E.I maintained a relatively lower growth percentage then other Canadian Provinces as they experienced less of the economic boom. Those living in P.E.I, or the Islanders, were relatively more prone to hardship as most people located in the province at the time lived strenuous and labour filled lives.
Before the war, Canada’s most important sector in its economy was agriculture. However, this was changing drastically after and during the war as industry began to take over as being more important. Canadian production of war material, food supplies, and raw materials had been crucial during the war. After the war, it was only natural that big investments were being made in mining, production, transportation, and services industries. Canadian cities were becoming very important contributors to the economy. This was also bringing in waves of post-war immigration, the backbone of Canada’s multicultural society we know today.
The Great War from 1914-1918 in Europe had a traumatic toll on Canadians. The soldiers in the fields were forever changed by the war but they weren’t the only ones who were changed. World War 1 had a significant impact on Canada’s homefront. The impact of the Great War on Canadian civilians can be easily seen through the increased rate and level of discrimination, growth of Canadian economy and the independence of women.
During the 1950’s, Canada experienced numerous scenarios which sparked its citizens to be proud. These events included the teenage outbreak, a rise in consumerism and the sudden growth in population. The teenagers were a huge deal in the development of Canada. Teenagers wanted to differentiate themselves from adults and the rest of society (Armstrong et al. 134). Teenagers dressed themselves different along with acting different as well. (Armstrong et al. 135). The new products were being created and sold through the process of consumerism. The new technologies helped shape the look of the new Canadian culture (Bain et al. 219).Lastly, the sudden growth in population was the “baby boom”. The baby boom was a period after WW2 in which babies
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.
Additionally, during the boom period of the roaring twenties, many people immigrated to Canada and found work in factories. Since many businesses were forced to close down due to a lack of demand and a surplus in supply, there was an even larger sum of unemployed individuals. This domino effect ultimately resulted in an unfortunate cycle. Due to the significant increase in unemployment rates in factories, many families had less revenue coming into their household. This meant that they were unable to spend their money on goods and services provided by companies.
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.
Between 1900 and 1929, Canada had the world’s fastest growing economy with only a sharp but brief recession during world war one. The 1920’s had been a successful period of growth. The living standards were improving remarkably. Before the First World War, the American stock market was small and a relatively unimportant part of Canada’s economy. This suddenly changed bringing the onset of the great depression in the late 1920’s when the economy took a severe and devastating turn; affecting the lives of Canadians for nearly a decade.
With the good times of the 1920's, came the most astouding number of consumer inventions Canada had ever seen. From 1923 to 1929, many Canadians had full-time jobs and regular paychecks. And with the growing amount of media advertising, Canadians were swepted away with the amount of flyers and catalouges filled with new products to buy and enjoy. Though some were invented by Canadians, most came from America. Inventions such as; the Refridgerator, Air Conditioner, Washing Machine and the pop-up toaster, were in thousands of Canadian homes by 1929. As stated by Bill Bryson, “[Americans] were, for one thing, so smitten with the idea of progress that they invented things without having any idea whether those things would be of any use.” Americans invented so many things during the Booming 20's, that Canadians wee overwhelmed, but one invention revolutionized Canada forever, the automobile. The automobile was huge success in Canada, not only commerically, but its commerical mass production on assembly lines generated hundreds of jobs with good living salaries. By 1929, a large amount of Canadians families owned an automobile and close to 600 000 kilometres of roads were paved within Canada. The American...
One would have to admit that World War One did give Canada a reputation and Canadians pride. Canada’s accomplishments in the war, notably the victory at Vimy Ridge and Canadian troops holding against the German attack in the Second Battle of the Ypres, not only gave Canadians a reason to be proud of their country, but also let other countries to see that Canada was a very helpful and useful. Also, Canada representing itself in signing the Treaty of Versailles increased Canadian pride and further showed Canada’s contribution to the war. However, this increased Canadian pride and reputation came at a heavy price. As
The baby boom generation’s first memorable contribution to Canada was to raise the Canadian economy to a higher stage with the emergence of greater number of people with varying abilities. With the sudden increase in the population, more demands for more products and services were undoubtedly created, helping the economy to strive forward and advance Canada to be competitive in the global market. Before the baby boom period, Canada was suffering from the aftermath of the Great Depression. There was a lack of jobs and people did not have the sufficient funds to spend on any extra luxuries and this created a vicious cycle of economic crisis. However, due to thou...
Canadians were frustrating, wonderful, and hard. Soldiers returning from the war expected jobs, but were faced with unemployment, inflation and strikes. Inflation had doubled the cost of living where wages had not and those fortunate to be employed still faced immense financial difficulty. Many people joined unions for better pay and working conditions, 1919 saw the most strikes at a staggering three hundred and six, people were angry and discontented. The 1920s were a time of crime corruption and extreme poverty, yet by mid era difficult conditions began to improve. Foreign investors gained confidence in Canada and as a result new industries were developed, The twenties really did 'roar' and with this boom of change Canada underwent the transformation that was the gateway to the future.
From the first Great War, to the Great Depression, and after the Second World War, you could say that Canada had been transformed significantly. Since the day the British North American Act was enacted in 1867, Canada was a small and developing country. The Second World War had been one of its biggest challenges yet and the countries future prospects tremendous benefits especially in the fields of political development, social development, and economical development. It was a great struggle to get where she is today and WW2 was a major contributing factor to why Canada is such a strong and unified nation
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”.