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Unit 3: The Roaring Twenties and the economic crisis b) The ups and downs of the economy
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Economic flow for the period between the two world wars is divided into three main sections: 1.Economic Recession (1919-1924) 2.Economic Recovery (1924-1929) 3.Economic Depression (1929-1939)
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b) The ups and downs of the economy 1.Economic Recession: causes: – Impact of war – Huge debt in European countries means less exporting for Canadian products – High tariffs on U.S. products; Canada loses much of its overseas market
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b) The ups and downs of the economy 1.Economic Recession : – Features: High unemployment Increase in the number of bankruptcies Many Canadians leave the country for the United States
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b) The ups and downs of the economy 2. Economic Recovery: Features: – Low unemployment – Purchase of new products new technologies – More time for leisure (cinema, jazz, travel...)
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b) The ups and downs of the economy 2. Economic Recovery: – Causes: European countries borrow from the U.S., – can now buy canadian products. wheat value increases. Expansion of the Canadian industry – (pulp and paper, hydropower, mining, automotive...) More American investment in Canada
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b) The ups and downs of the economy 2. Economic Recovery: Features: – Low unemployment – Purchase of new products new technologies – More time for leisure (cinema, jazz, travel...)
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