The History of the Canadian Economy by Kate Monahan

The History of the Canadian Economy by Kate Monahan https://padlet.com/monahak1/6j8h061h5e7e4ora en-us 2021-06-11 21:00:08 UTC 2023-03-10 23:51:53 UTC hello@padlet.com The Early Economy monahak1 https://padlet.com/monahak1/6j8h061h5e7e4ora/wish/1601925056 Timeframe: From 12,000+ years ago until ~1700s

The people who were here first in in what we call Canada, operated as nomadic hunters, fishers, and gatherers for many millennia. Domestication of plants (farming) and trade amongst communities came along more recently (500 - 1500+ years ago).

Colonizers from Europe arrived as early as 1,000 years ago. First Peoples opened up trade to them in addition to other First Peoples nations. The Europeans were interested in natural resources (farming, fishing, fur, shipping) and in time also traded manufactured items that came over from Europe.

Sources:
Canadian Museum of History. (n.d.). First Peoples of Canada. https://www.historymuseum.ca/cmc/exhibitions/aborig/fp/fpint01e.html

Ferrell, L., Ferrell, O.C., Hirt, G., Iskander, S., Mombourquette, P. (2020). Business - A Changing World. McGraw Hill. p16.]]> 2021-06-11 21:02:51 UTC https://padlet.com/monahak1/6j8h061h5e7e4ora/wish/1601925056 The First Industrial Revolution monahak1 https://padlet.com/monahak1/6j8h061h5e7e4ora/wish/1601925789 Timeframe: the 19th century

The Industrial Revolution brought technology and factories to Canada. Ontario and Quebec saw the bulk of the industrialization, while much of the country remained working with natural resources.

As the fur trade declined timber became a profitable industry for this area during this time. Europe had an insatiable demand for Canadian lumber, both during war times and peace times.

The Ottawa River area lumber barons rose to prominence during this time as well bringing with them the rise of saw mills.

The Canadian Pacific Railway was built between the 1880s and 1920s, connecting the Atlantic coast to the Pacific coast. The railway allowed farmers to send their products across Canada. Factories sprung up along the rail line to produce farm equipment and other goods that were shipped by rail.

Sources:
Canadian Museum of History. (n.d.). The Timber Trade. https://www.historymuseum.ca/cmc/exhibitions/hist/canp1/ca14eng.html

Canadian Pacific Railway. (n.d.). Connecting Canada. https://cpconnectingcanada.ca/

Ferrell, L., Ferrell, O.C., Hirt, G., Iskander, S., Mombourquette, P. (2020). Business - A Changing World. McGraw Hill. p17.

OttawaRiver.org. (n.d.). Logging in the Ottawa Valley - The Ottawa River and the Canadian Lumber Industry. https://ottawariver.org/pdf/09-ch2-7.pdf ]]> 2021-06-11 21:03:36 UTC https://padlet.com/monahak1/6j8h061h5e7e4ora/wish/1601925789 The Manufacturing Economy monahak1 https://padlet.com/monahak1/6j8h061h5e7e4ora/wish/1601927808 Timeframe: Early 20th century

While manufacturing started in what we call Canada in the 1700s with the milling of flour, it took off between World Wars I and II.

The rise of factories and industrialization brought wealth to some Canadians. Many found work in manufacturing goods, leaving farming altogether.

Assembly line 'thinking' was brought into most industries, increasing the number of types of products available to consumers.

From a forestry & wood production perspective, sawmills expanded into pulp, paper, and cardboard during this time.

Sources:
Ferrell, L., Ferrell, O.C., Hirt, G., Iskander, S., Mombourquette, P. (2020). Business - A Changing World. McGraw Hill. p18.

OttawaRiver.org. (n.d.). Logging in the Ottawa Valley - The Ottawa River and the Canadian Lumber Industry. https://ottawariver.org/pdf/09-ch2-7.pdf ]]> 2021-06-11 21:05:28 UTC https://padlet.com/monahak1/6j8h061h5e7e4ora/wish/1601927808 The Marketing Economy monahak1 https://padlet.com/monahak1/6j8h061h5e7e4ora/wish/1601928174 Timeframe: 20th and 21st centuries

The rise of the Manufacturing Economy brought about the Marketing Economy. Businesses became more concerned with what consumers needed and wanted. Multiple businesses produced the same types of products. Advertising taught consumers about the differences in products and prices they purchased.

Free enterprise took off as consumers bought the things they wanted at the prices that made sense for their budgets.

Businesses started placing advertisements in newspapers before moving on to radio, magazines, television, billboards and other outdoor advertising, and now digital platforms.

In the early 20th century, particularly in the Ottawa Valley, the pulp and paper industries replaced forestry and sawmills as the area became deforested.

The Petawawa Research Forest was first established in 1918.

Forestry, pulp, paper, and paperboard products continue to make up a strong segment of Canada's economy in the 21st century.

Sources:
Ferrell, L., Ferrell, O.C., Hirt, G., Iskander, S., Mombourquette, P. (2020). Business - A Changing World. McGraw Hill. p18.

OttawaRiver.org. (n.d.). Logging in the Ottawa Valley - The Ottawa River and the Canadian Lumber Industry. https://ottawariver.org/pdf/09-ch2-7.pdf

The Canadian Encyclopedia. (n.d.). Advertising. https://www.thecanadianencyclopedia.ca/en/article/advertising]]> 2021-06-11 21:05:44 UTC https://padlet.com/monahak1/6j8h061h5e7e4ora/wish/1601928174 The Service Economy monahak1 https://padlet.com/monahak1/6j8h061h5e7e4ora/wish/1601928606 Timeframe: Mid-to-late 20th century onwards

After World War II, many women decided to stay working in the workforce. For many households, this meant that there were two incomes coming in. The rise of unions shortened the work week. So Canadians had more money and more time.

They started paying people to perform services that made their lives easier, like housekeeping, childcare, laundry, etc. Thus Canada began transitioning to a service economy - one where businesses produce services to help their busy consumers. It's estimated that services make up approximately 70% of the economy.

During this time:
In 1989, the National Aboriginal Forestry Association (NAFA) was established to "promote forestry as a necessary condition for Aboriginal economic development."

As noted on its website, NAFA is "committed to
holistic or multiple-use forestry, which implies the rebuilding and the sustainable development of the forest resource to serve a multitude of community needs, among those being the protection of wildlife and traditional food stuff habitat, protection of fur bearers, protection of clean and adequate supplies of water, establishment of forested areas for recreation and tourism attractions, traditional cultural and spiritual use, as well as the production of fibre for timber, pulp and paper and other wood by-products."

Sources:
Ferrell, L., Ferrell, O.C., Hirt, G., Iskander, S., Mombourquette, P. (2020). Business - A Changing World. McGraw Hill. p18.

National Aboriginal Forestry Association. (n.d.). About. http://www.nafaforestry.org/about.html

]]> 2021-06-11 21:06:07 UTC https://padlet.com/monahak1/6j8h061h5e7e4ora/wish/1601928606 The Experience Economy monahak1 https://padlet.com/monahak1/6j8h061h5e7e4ora/wish/1601928871 Timeframe: Late 20th century onwards

Between the mid 1960s and the late 1990s the service economy transitioned to the experience economy. In attempt to match customers' expectations, businesses started to make their services more and more memorable - experiences rather than services.

The experience could be as simple as being able to order a pizza either over the phone, in person, or by tweeting, emailing, or texting.

Source:
Newman, D. (24 November 2015). What is the experience economy and should your business care? Forbes. https://www.forbes.com/sites/danielnewman/2015/11/24/what-is-the-experience-economy-should-your-business-care/?sh=4c789f021d0c]]> 2021-06-11 21:06:24 UTC https://padlet.com/monahak1/6j8h061h5e7e4ora/wish/1601928871 The Digital & Gig Economies monahak1 https://padlet.com/monahak1/6j8h061h5e7e4ora/wish/1601929159 Timeframe: 21st century

From the Merriam-Webster Dictionary: "The gig economy gets its name from each piece of work being akin to an individual 'gig' – although, such work can fall under multiple names. It has previously been called the 'sharing economy' — mostly in reference to platforms such as Airbnb — and the 'collaborative economy'".

Reflection: how might forestry, mills, and/or wood product manufacturing fit in the new economy?

Source:
Merriam-Webster. (April 2019). Words we're watching: 'gig economy'. https://www.merriam-webster.com/words-at-play/gig-economy-use-origin-phrase]]> 2021-06-11 21:06:40 UTC https://padlet.com/monahak1/6j8h061h5e7e4ora/wish/1601929159