RSM100Y1 Lecture Notes - Lecture 2: Unbridled, Social Democracy, Environment And Climate Change Canada
Document Summary
Canada is a social democracy, with a monarch as head of state. Canada does not have a president, it is self governed officially since 1981. Our economy is widely recognized as a mixed market economy (not all free enterprise and not all is owned by the government). Public government ownership as well as private. Adam smith"s (1776) invisible hand is at work. Wealth (n): an abundance of material possessions and resources; property that has economics utility. Today, canada"s wealth is derived mostly from trade (and mostly with u. s. ) Beaver pelts boom, the hudson bay company (founded in england) administered rupert"s land. It was easier to trade with what was closer to both sides of canada. To encourage trade across country they built a railroad. Canada is empty compared to population density vs the amount of available land. Only one more country has more land than canada (russia) Canada has more freshwater than any other country on earth.
