ECON 2420 Chapter 17: Canadian Economical History Chapter 17
29 Nov 2017
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Canadian economical history chapter #17: the great depression, 1929 1939. In 1929, the canadian business cycle turned downward. What initially appeared to be a regionally based agricultural slump proved to be a major economic collapse. By the time the bottom was reached, in 1933, more than one in four. Canadians was out of work, many municipalities and even some provinces hovered on the edge of bankruptcy, and thousands of individuals had been forced to shutdown their businesses or farms. Canada was caught up in a vast international collapse, over which it had little control. The canadian economy had weaknesses of its own, but economic collapse was unavoidable, given events elsewhere in the atlantic economy. Canadian and us recessions up to and including the depression were remarkably similar, suggesting that canadian recessions and the depression, originated in the us and were quickly transmitted to canada.
