HIS311Y1 Lecture Notes - Lecture 16: British Empire Economic Conference, Northern Ontario, Arthur Meighen
Document Summary
Had a lot to do with loss of arthur meighen government but not entirely. There was a lot of other historical factors. Canada"s social safety net is radically incomplete. Depression of 1921 is an international depression. Great economic gures of the period: ponzi (schemes) Encourage investors to invest in you, promising huge returns as long as you can get enough investors you can get enough money to pay off your rst investors. Ponzi is symbolic of what happens in the boom of the late 1920s. People borrowed, invested, borrowed often on very slight margins. Easy if things turn sour to go underwater (debts are larger than your assets) Monuments of the 1920s are all around us in to. Suburbs, paved highways, public investments (schools, hospitals) Prudent and responsible investments, society for the rst time could afford these things. Toronto is the product of an economic boom. Toronto prices, tsx dominated mining investments around the world.
