Economy | The Canadian Encyclopedia

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  • Article

    National Income

    National income, strictly, is a money measure of the incomes received or accruing to residents of a country as owners of the agents of production, during a specified period of time.

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  • Article

    Nationalization

    Nationalization is the takeover of ownership and control of a privately owned enterprise by the STATE.

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  • Article

    Navigation Acts

    The Navigation Acts were a complex set of British laws dating from 1651 and 1660, regulating British and later imperial shipping and trade to foster economic and naval power.

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  • Article

    Political Economy

    Political Economy is the study of the relationship between POLITICS and ECONOMICS.

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  • Article

    Protectionism

    Protectionism refers to government policies that shield domestic production (and producers) from foreign competition.

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  • Article

    Radical Economics

    Originally the word "radical" meant relentlessly seeking the root of a problem and not shrinking from the action that follows as a logical consequence of its findings. More popularly, it denotes a sharp departure from conventional, orthodox interpretations of reality.

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  • Article

    Recession in Canada

    A recession is a temporary period of time when the overall economy declines; it is an expected part of the business cycle. This period usually includes declines in industrial and agricultural production, trade, incomes, stock markets, consumer spending, and levels of employment. In purely technical terms, a recession occurs when two or more successive quarters (six months) show a drop in real gross domestic product (GDP), i.e., the measure of total economic output in the economy after accounting for inflation. In this sense, recessions are broad and can be particularly painful and challenging times for a country. This is the full-length entry about Recession in Canada. For a plain-language summary, please see Recession in Canada (Plain-Language Summary). 

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  • Article

    Recession in Canada (Plain-Language Summary)

    A recession can mean “going down.” The word “recession” is often used when talking about the economy. An economic recession is a time when the economy is going down. Production goes down. Spending goes down. Stock markets go down. Overall, the gross domestic product (GDP) goes down. GDP is the amount of goods and services produced in a country. A recession happens when the economy goes down for more than a few months. Recessions occur often, and they cause many problems for individuals and businesses. This article is a plain-language summary of Recession in Canada. If you are interested in reading about this topic in more depth, please see our full-length entry, Recession in Canada.

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  • Article

    Recession of 2008–09 in Canada

    The global financial crisis that began in 2007 dragged much of the world economy into recession, and Canada was not spared. Although the effects on Canada were milder than on the United States and in Europe, the Canadian recession of 2008–09 was still severe enough to generate sharp declines in output and employment and to require significant responses by Canadian policy-makers.

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  • Article

    Reciprocity (Plain-Language Summary)

    Reciprocity was a free trade deal between the United States and Canada. (Reciprocity is when both sides give and receive.) The deal reduced import duties and tariffs on certain goods traded between the two countries. It was in effect from 1854 to 1866. It was at times a source of great controversy in both countries. It was replaced in 1878 by the National Policy. It was a more protectionist policy. It imposed tariffs on imported goods. This shielded manufacturers in Canada from US competition. A more limited reciprocity deal was reached in 1935. It ended in 1948 after both countries signed the General Agreement on Tariffs and Trade (GATT). This article is a plain-language summary of Reciprocity. If you would like to read about this topic in more depth, please see our full-length entry: Reciprocity.

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  • Article

    Regional Economics in Canada

    There are major economic differences among Canada’s main geographic regions — Ontario, Quebec, the North, the West and Atlantic Canada — each are affected by its own history of economic development, industrial location, urbanization, land use and migration. This is the full-length entry about regional economics in Canada. For a plain-language summary, please see Regional Economics in Canada (Plain-Language Summary).

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  • Article

    Regional Economics in Canada (Plain-Language Summary)

    A region is a place. Canada has many regions. Regions have different geographic qualities, natural resources, markets and populations. These differences affect the economy of a region. (See also Regionalism.) This article is a plain-language summary of Regional Economics in Canada. If you are interested in reading about this topic in more depth, please see our full-length entry, Regional Economics in Canada.

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  • Article

    Royal Commission on Canada's Economic Prospects

    The idea for this royal commission was based on a draft article by Walter GORDON in 1955 questioning the validity of a number of the government's economic policies, particularly the question of selling control of Canada's natural resources and business enterprises to foreigners.

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  • Article

    Royal Commission on Economic Union and Development Prospects for Canada

    The Royal Commission on the Economic Union and Development Prospects for Canada (Macdonald Commission) was appointed in 1982 to examine the future economic prospects of the country and the effectiveness of its political institutions.

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  • Article

    Rubber Products Industry

    The rubber products industry consists of establishments primarily engaged in manufacturing rubber tires, tubing, hose, belting, washers and gaskets, weather stripping, tapes, etc. The 216 (1998) rubber manufacturers in Canada share annual sales of more than $4.7 billion (see Manufacturing in Canada). The industry directly employs 26,300 (1998) people; tens of thousands of additional jobs exist among suppliers and marketers of rubber products and in the transportation and service sectors.

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