Canada's Economy After The Second World War

Submitted By csmith217
Words: 505
Pages: 3
Open Document
After the Second World War, Canada struggled to balance its economic structure to peacetime production. Canada’s economy was shrinking causing less production and a lack of job opportunities for individuals. Canada’s economy in the postwar era affected Canadians quality of life with high living costs, consequently making its economy go into a downward spiral. Significant changes in Canada’s economy triggered the birth of welfare state, political movement and social change.
Canada embraced a socialist approach to balance its economy defined as a “postwar liberal consensus”. Welfare state is a process of government intervention to gain the purpose of redistributing wealth. Government involvement was feared by many Canadians because it gave government officials more power. However, the social programs were designed for the security of citizens. Universal programs such as medical insurance, social assistance, family allowances and old age pensions were formed to benefit citizen’s financial state, therefore improving Canada’s economy.
C.D Howe was a key architect in developing the beginning of welfare state. Canada’s national debt was 1.25 times the annual gross national production in 1945. C.D Howe wanted to delay paying Canada’s debt until the economy was stable. Canada was under industrial development by conversion of wartimes to peacetime industries. War factories changed to manufacturing productions such as automobiles, housing, and clothes. In Canada production was slow, exports were limited, thus causing inflation. The Marshall Plan profited Canada’s export markets improving European countries by their purchase of Canadian goods, recuperating Canada’s economy.
The Cold War, was an ideological battle promoting political and economic options available to nations on either side of the capitalist-communist divide. Preparation of the Cold War advanced Canada’s economy because millions of dollars invested into defence production. The United States replaced the United Kingdom as a main source of foreign investment increasing takeovers of Canadian firms by United States companies. 1 billion dollars was spent on defence during the 1950s, shaping Canada’s economy on military defence.
Show More

Related Documents: Canada's Economy After The Second World War

Welfare and United States Essay

argument against the social welfare system in the United States as it stands right now. “In 1884, Germany introduced the first system of compulsory national insurance against sickness. Shortly after, Denmark, New Zealand, and Australia followed with non-contributory old-age pensions. Between 1906 and 1914, Britain’s liberal government enacted a series of similar reforms for their citizens in need” (Kuper 910-912). It was not until the Great Depression that the United States came up with the New Deal;…

Words 1969 - Pages 8

Speech To Persuade Essay

US dollars are spent on welfare yet poverty levels remain the same” (Cover, Matt). Welfare abuse in the United States is a huge problem and wastes trillions of taxpayer dollars each year. Those who are applying for welfare should undergo a mandatory drug test. This will prevent those who apply for welfare who’s intent is unhonorable from receiving benefits. The welfare system is meant to help out struggling families and to help get them back on their feet, but the welfare system has been mistreated…

Words 881 - Pages 4

The Pros And Cons Of Welfare Reform

the creation of Welfare programs in the year 1935, a percentage of the population in the United States has been depending on Welfare Systems to live; while at the same time, many of those people do not pay a single penny for those services. The problem with government dependency is that it goes against American core values of self-reliance and work. In order to solve this very expensive and dangerous problem, Congress should take into consideration reforming the different welfare programs and its…

Words 2143 - Pages 9

Welfare States Essay

Welfare States Americans do not like welfare programs as much as European and Canadian nations for several reasons. Martin Gilens’s book, “Why Americans Hate Welfare: Race, Media and the Politics of Antipoverty Policy” describes the reasons behind race and media. Americans assume that welfare recipients are undeserved poor individuals and welfare program only encourages them to not look for employments. While some welfare states are those states which fund the program by collecting taxes from their…

Words 558 - Pages 3

Australia's Retirement System

while the least generous are the United States, the United Kingdom, Germany, and Australia, exhibited in Graph 3 (page 6). Though differing levels of generosity among these eight nations, they all follow a similar template of eligibility. For…

Words 1198 - Pages 5

Welfare Fraud Case Summary

Welfare fraud has become a major concern as well as issue for modern day society. Individuals are defrauding the system on a daily bases. Therefore, in this paper I will analysis welfare fraud and how it impact society. In addition, I will discuss the case that brought the welfare fraud to light Goldberg v Kelly. In this case scenario individual felt that they were terminated off of public assistant without any type of public notice. The case of Goldberg v. Kelly was a case…

Words 2089 - Pages 9

Neoliberalism Research Paper

CHST 174 Final Essay Politics in the United States have gone through many phases since the countries inception. Regardless of the many political theories that have influenced politicians, the end result has been the same; the white majority has taken advantage of people of color. In the last 40 years, Neoliberalism has risen and along with capitalism has brought much destruction and racism through legislation to people of color in the United States and in other countries throughout Latin America…

Words 1611 - Pages 7

Weasel Words

The United States of America, the land of the free, and where everyone works hard together for the same common goal of improving our country. That would be the most beneficial society, however, that is not the case. There are many people in this country, who are hard-working taxpayers, however, there are those who live from the taxpayer’s money. There are many assistant programs put in place, to help individuals that are in “need”, one of these systems is Welfare. Although the welfare system was…

Words 1251 - Pages 6

Welfare Programs In African Americans

Current welfare programs promote financial illiteracy instead of teaching minority groups financial independence. The way current welfare programs are set up, maintained the overwhelming financial illiteracy in the black community. By preventing the black community from developing in one’s financial ability, it makes participation in the welfare system more detrimental than beneficial. By leaving individuals ignorant about how to manage funds and allocate spending, an endless cycle develops and the…

Words 1964 - Pages 8

Pros And Cons Of Temporary Assistance Programs

electricity and water. Food stamps is the most known form of welfare, which provides nutritional needs for families, providing the recipient with their necessary groceries which are only WIC approved. Medical assistance programs include Medicare and Medicaid coverage, allowing recipients access to more than just the basic well checks. Finally, vocational…

Words 1332 - Pages 6