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Economy Review

1500- Today. Economy Review. Economy. Economic activity. A set of facts relating to the production, distribution and consumption of wealth in a community. Source: Le nouveau Petit Robert de la langue française 2008, e lectronic version. [Translation]. Capital.

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Economy Review

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  1. 1500- Today EconomyReview

  2. Economy • Economic activity. A set of facts relating to the production, distribution and consumption of wealth in a community. • Source: Le nouveau Petit Robert de la langue française 2008, electronic version. [Translation]

  3. Capital • Wealth intended for the production of an income or new goods; production means.

  4. Supply and demand • Whenthereis a highdemand and lowsupply, sellerscan charge a lot of money. • Whenthereis a large supply, the pricegoes down.

  5. First Inhabitants • European fishers would come to north America in the summers to fish off the coast. • They had to dry the fish on the shores. • This led to contact with aboriginals. • Economic activity that led to contact: fishing

  6. Trade Routes • Aboriginalsusedtheirenvironment for all materialgoodsneeded. • Theypractisedsubsistenceeconomy (onlywhatyouneed to survive) • Theydevelopedtrade routes all acrossNorthAmerica to getwhattheirenvironmentdid not offer.

  7. French Régime • 1608 - 1760

  8. French Regime 1608-1760 • French first explored the North American continent in search of gold and other riches. • Theydiscoveredcodfish, enough to make the journeyacross the ocean to fish profitable. • The need to dry the fishbeforereturning to Europe led to contact/tradebetweenEuropeans and Aboriginals.

  9. Fur trade • Afterfish, fur became the main economicactivity. • First, monopoliesweregiven to a companythatwent to New France to tradewithAboriginals to get fur. • After 1663 (Royal Government), monopolieswerestopped and the congé system wasused. • Congé system waspermits to limit the number of traders.

  10. The fur tradewasvery profitable. • The French government (the king) encouraged the establishment of trading colonies in New France. • The tradingcolonymeantthat the only goal was to developtradingposts on the territory and acquireresources to send back to the mother country.

  11. Mercantilism • “The French state followed a strict economic policy of mercantilism, the goal of which was to enrich the mother country. The colonies were supposed to provide raw materials, which would be used to make manufactured goods in France.”

  12. Effects of Mercantilism • The economy of New France waslimitedbecause of mercantilism. • Developingprimaryresourceswas the main goal of activities in New France. • Production of goodswas to bedone in France. • The colonywas a market for goodsfrom France to besold.

  13. Translated from : Cardin Le Québec : héritages et projets, p. 112 Jean Talon - mercantilism Under mercantilism, manufacturinggoodswas to bedone in the mother country. That waytheycouldsellfinishedproducts back to the colony.

  14. Economydiversity • This period saw the development of new economic activities such as hemp and flax cultivation, ship building and triangular trade. • Hempcouldbeused to makerope, barley to makebeer… • Talon diversified agriculture • *This wasdiscouraged on a large scale by the king, becauseproductsweremainly to be made in France and bought by the colony.

  15. The Forges du Saint-Maurice [Saint-Maurice Ironworks], near Trois-Rivières, was the first real industrial establishment in Canada. . . . It required heavy investment and highly skilled workers. • Sébastien Brodeur-Girard et al., Le Québec, une histoire à construire: histoire et éducation à la citoyenneté, 2e cycle du secondaire, 2e année (Laval: Grand Duc, 2008), Vol. 1, 136. [Translation] • Made parts for ships, woodstoves, cooking pots, farmingequipment.

  16. Translated from : D. Vaugeois et al. Canada-Québec Synthèse historique (Montréal : Éditions du Renouveau pédagogique, 1973), p. 153. Main economicactivities • The main economicactivities in New France were: • Fishing • Fur trade (main economicactivity) • Surbsistence agriculture -> production agriculture (surpluses to trade, supply the cities)

  17. British Rule • 1760 - 1867

  18. British Rule 1760-1867 • After the Conquest, not muchchangedimmediately. • Fur continued to be the main economicactivity in the Province of Quebec. • Mercantilismcontinued to be the economicpolicy, colonyprovidedresources to the mother country.

  19. Napoleon's Continental Blockade Timber • Timberstarted to take over as the main economicactivity in the colony. • The NapoleonicBlockademeantthatBritaincouldn’tgetlumberfromotherEuropean countries. • Britainhad to turn to NorthAmerica for itslumber.

  20. Napoleon's Continental Blockade Napoleonicblockade

  21. Timbertrade • Canada had a lot of forests and the waterways to transport the timber. • Forests are the resource • Timberis the industry

  22. Diversification of agricultural production • In 1830s and 1840s, Lower Canada (Quebec) shiftedfromwheat production to other options. • Wheatharvestswere not as abundant, and Lower Canada had to import wheatfrom the West. • Dairyfarmsstarted to becomepopular in Quebec.

  23. First phase of industrialization • Mostly unskilled labourers • Food, shoes, leather, textiles, tobacco • Iron and steel • Wood

  24. Canal Construction 1825 • To facilitate production and distribution, canalswerebuiltlinking the St. Lawrence to the Great Lakes

  25. 1867-present

  26. Document 2 The National Policy National Policy • John A. Macdonald • Buildrailroadacross country • Impose protectionistpolicies (tariffs) • Colonize the West

  27. Second phase industrialization • 1900 – 1929 • Factories and machines developedquicklybecause of oil and hydroelectricity. • Railway made itcheaper to produce and distribute • Dairyindustry • Foreigninvestmentbrought in a lot of capital • First World Warstimulatedeconomy.

  28. Foreign investment in Canada Ministère de l'Éducation, du Loisir et du Sport. Based on Paul-André LINTEAU et al., Quebec: A History, 1867-1929 (Toronto: J. Lorimier, 1983), p. 386.

  29. Foreign investment in Canada, 1900‑1930 Canada : Energy Production Foreigninvestment in Canada1900-1930

  30. Developement of Dairyfarms • More efficient tools, increasedyields • Manyproducts made fromdairyfarms: • Milk • Butter • Cheese • Cream • Much of theseproductswereexported

  31. The Mechanization of Agriculture • Mechanization of agriculture Omer BEAUDOIN, Archives nationales du Québec, E6-7/96968.

  32. Working conditions • 2nd phase of industrializationmeantthatyouneeded a lot of workers to work in the factories • Lots of people moved to the citieslooking for work. • Poor, working class neighbourhoodsstarted to develop. • Pollution, dirty areas, badlybuilthousing

  33. Working Conditions • Working conditions for unskilled workers were harsh. • A male worker earned $10 for a 60- to-72-hour work week, while a female worker earned less than $5. • There were many young workers—14 and 15 years old—who were subjected to strict discipline. . . . the unions were illegal movements.

  34. Working Conditions • Lowwages • LONG workdays, workweeks • Sick or injuredwerefired • Dangerouswork conditions, fatalities, injuries

  35. Great Depression • Stock Crash in New York led to hugeeconomiccrisis • Disparitieswereevenworseatthis time • To help withthis, governmentgot more and more involved in the economy.

  36. WW2 • WW2 helped end the Great Depression • Canada produced all kinds of products for the soldiers, giving people jobs. • Womenjoined the labour force

  37. Mass consumptionafter the war • Economicproperitycontinuedafter the war • Unions werebecoming more powerful • Workershad: • 1-2 weekspaid vacation • 40 hourweek • Overtimepay • Healthinsurance plan • Option to contribute to a pension plan

  38. Mass consumption • These social benefitsalongwithsavingsfrom the VictoryLoan Bonds gave Quebeckers more money to spend • Duringthisperiod people werespending a lot of money. • Car sales increased a lot, cars were the mostsought-afterproduct.

  39. Mass consumption

  40. Quiet Revolution • 1960 • Nationalizationof electricity • Investment in a lot of hydro dams • EnabledQuebeckers to control a keysector of theireconomy • Becoming a welfare state

  41. Document 3 John A. Dickinson and Brian Young, Diverse Pasts: A History of Québec and Canada, 2nd ed. (Toronto: Copp Clark, 1995), p. 351.

  42. Economysince the 1980s • Tertiarysectorbecomes the predominantsector of employment • Serives • Technology industries • Aerospace industry • Quebec has dealtwith global competition by specializingitseconomy and by investing in training and research.

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