The Second World War and The Boom Years
The turn around brought about by the command economy imposed at the beginning of the Second World War was immense. Unemployment virtually disappeared by 1940 as soldiers were recruited and factories turned to war production. Canada was in the unusual situation of helping Britain financially, through a program similar to the American Lend Lease.
In the twenty-five years after the war, there was an immense expansion in the Canadian economy. Unemployment remained low and the end of wartime production was quickly turned over to making consumer goods. Canada, along with many other developed nations, firmly established itself as a welfare state with publicly-funded health care, the Canada Pension Plan, and other programs.
During this period, the Canadian economy became much more closely integrated with the American one as tariff barriers fell and trade agreements like the Canada-United States Automotive Agreement and the "Hyde Park Declaration" were signed.
Read more about this topic: Economic History Of Canada
Famous quotes containing the words world, war, boom and/or years:
“The world itself is pregnant with failure, is the perfect manifestation of imperfection, of the consciousness of failure.”
—Henry Miller (1891–1980)
“What war has always been is a puberty ceremony. It’s a very rough one, but you went away a boy and came back a man, maybe with an eye missing or whatever but godammit you were a man and people had to call you a man thereafter.”
—Kurt Vonnegut, Jr. (b. 1922)
“The cohort that made up the population boom is now grown up; many are in fact middle- aged. They are one reason for the enormous current interest in such topics as child rearing and families. The articulate and highly educated children of the baby boom form a huge, literate market for books on various issues in parenting and child rearing, and, as time goes on, adult development, divorce, midlife crisis, old age, and of course, death.”
—Joseph Featherstone (20th century)
“Come Vitus, are we men, or are we children? Of what use are all these melodramatic gestures? You say your soul was killed, and that you have been dead all these years. And what of me? Did we not both die here in Marmaros fifteen years ago? Are we any the less victims of the war than those whose bodies were torn asunder? Are we not both the living dead?”
—Peter Ruric, and Edgar G. Ulmer. Hjalmar Poelzig (Boris Karloff)