How Does Globalization Affect Canada

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During his budget speech of 1998, Finance Minister Paul Martin believed that the Canadian budget, while important, was not the only aspect of Canada that was important. He believed that "there is more to taking care of a nation than simply taking care of the books. Canada is not just a market place. It is a community "(qdt. In Campbell 261). Martin was referring to the affects of globalization within Canadian society and economy, believing that we could shape these aspects without them being fully influenced by global markets. In essence, we would thrive in the global marketplace without losing our sense of a Canadian community. Globalization is a force that has affected both unitary and federal systems around the world. Individual states have adapted to trade within these international markets in order to experience economic prosperity. While globalization has affected national economic structures, it has also taken a foothold on public policies within states. However, how these policies are affected varies from state to state. As …show more content…

Canadian economics and globalization have affected the very nature of the long-standing federal government commitment towards equalization payments. While provincial governments have autonomy over their social programs, there is still some national disparity that occurs between provinces. Funding disparities would occur without the proper mechanisms in place to prevent disparities, as oil rich Alberta has greater economic power than the smaller economies of the Maritime Provinces. These differences in provincial economics have lead to the federal equalization payments. These payments are part of the 1982 Constitution act, and allows for transfers to provinces "whose fiscal capacities fall below a representative national standard" (Brown

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