Unit 3: The Roaring Twenties and the economic
crisis
b) The ups and downs of the economy
•
b) The ups and downs of the economy
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)
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
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
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...)
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
b) The ups and downs of the
2. Economic Recovery:
economy
• Features:
– Low unemployment
– Purchase of new products
new technologies
– More time for leisure (cinema, jazz, travel...)