MGMT 1030 Lecture Notes - Lecture 38: John Diefenbaker, Refinancing, Avro Canada Cf-105 Arrow
9 May 2018
School
Department
Course
Professor
MGMT 1030
Lecture 38
1) World War I, the Great Depression, and World War II
➢ World War I
➢ Exports increased from 18% of GNP in 1913 to 41% of GNP in
1917
➢ Government expenditures increased from $246 million in 1914 to
$740 million in 1919
➢ Canadian public subscribed to more than two billion dollars in
government bonds
➢ Income tax instituted in 1917
➢ Imperial Munitions Board directed Canadian war production
➢ Wheat acreage doubled during the war
➢ Great Depression
➢ 20% (actually 32%) unemployment rate by 1932
➢ National income declined 40% between 1929 and 1932
➢ R.B. Bennett (1930-1935) could not spur the economy
➢ Raised tariffs
➢ Founded Bank of Canada
➢ W.L.M. King (1935-1948) accomplished little before the Second
World War
➢ World War II
➢ Much greater direct government intervention
➢ Price and wage controls
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