THE POSTWAR BOOM THE AMERICAN DREAM IN THE 1950S John Naisbitt.
In the postwar economic boom, mining, forestry, and other...
Transcript of In the postwar economic boom, mining, forestry, and other...
Postwar Prosperity • In the postwar economic boom,
mining, forestry, and other natural resources industries remained the heart of the Canadian economy
• The discovery of oil in Leduc, Alberta in 1947 marked Canada’s entry into the international oil market
Megaprojects
• The federal government used tax revenue to fund megaprojects. These in turn created more jobs and thus even more tax revenue
Canada: the 49th state?
• The economic boom in Canada led to an increased demand for foreign, and especially U.S., investment
• This was (and still is!) problematic for many Canadians
Pros vs. Cons Pros
• More jobs
• Better technology
Cons • Profits go back to
the United States
• U.S. ownership = less Canadian control
You decide…
By 1957, Americans controlled:
• 70% of oil and gas investment
• 52% of mining and smelting
• 43% of Canadian manufacturing