MGMT 1030 Lecture Notes - Lecture 7: Grand Banks Of Newfoundland, Mercantilism, Welland Canal

• School: York University
• Department: Management
• Course: MGMT 1030
• Professor: Andrew Thomson

Document Summary

Fish, furs, timber, wheat: economic growth dependent on demand for staples abroad, long-term effect of staples dependent on linkages. Backward things to collect staples e. g. farm machine. Forward opportunity for other production e. g. wheat = bread. Final demand money that stays in economy. Newfoundland: employed 89% of labor force in fishery. Timber/lumber: american revolution and napoleonic wars stimulated british demand for colonial timber; demand from wooden ships/housing, traditional sources of british timber were baltic sea nations; high cost of trans-atlantic transport made north american timber uncompetitive. Late 1920s british columbia was producing half of canada"s annual cut of timber. Wheat in upper canada: upper canada sparsely populated after american revolution; distance to export market limited wheat economy growth. Producers ltd and alberta wheat pool: purpose was market wheat in orderly/stable manner directly to importers, instead through grain exchange/futures markets; returns pooled and divided annually among members. Large-scale industrial exploitation of mineral resources in canada commenced at st. maurice forges in.