The Canadian Economy 10/30/2012 8:32:00 AM
Problem with the banking system
Not a system to promote investment of an indigenous entrepreneurial class
Even if company grows Canada will sell its big company to foreign buyers
No enough rich people to buy these companies
Canada only rich because of natural resources oil, pot ash, forestry
Investments in natural resources
Banks, government, people investing and creating policy in natural resources
US funding entrepreneurial spirit and infrastructure to allow for growth.
As Britain moves away from mercantilism it becomes politically disengaged
Britain following Adam Smiths views for free trade repealed the Corn Laws
and Navigation Acts and embraced free trade.
While Britain retained its connections to Canada following the rebellions of
1837, ignoring Lord Durham’s call for greater local government. In 1840’s
Britain moves on and loses interest in Canadian politics.
Canadian merchants look to alternative markets like USA after Canadian
protected market is lost with the ending of mercantilism.
Canada however needed a solution at home