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 the second, world, war, boom and/or years:
“It was not till the middle of the second dance, when, from some pauses in the movement wherein they all seemed to look up, I fancied I could distinguish an elevation of spirit different from that which is the cause or the effect of simple jollity.—In a word, I thought I beheld Religion mixing in the dance.”
—Laurence Sterne (1713–1768)
“His life was gentle, and the elements
So mixed in him that nature might stand up
And say to all the world “This was a man.””
—William Shakespeare (1564–1616)
“The most absurd apology for authority and law is that they serve to diminish crime. Aside from the fact that the State is itself the greatest criminal, breaking every written and natural law, stealing in the form of taxes, killing in the form of war and capital punishment, it has come to an absolute standstill in coping with crime. It has failed utterly to destroy or even minimize the horrible scourge of its own creation.”
—Emma Goldman (1869–1940)
“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)
“After years of vain familiarity, some distant gesture or unconscious behavior, which we remember, speaks to us with more emphasis than the wisest or kindest words. We are sometimes made aware of a kindness long passed, and realize that there have been times when our Friends’ thoughts of us were of so pure and lofty a character that they passed over us like the winds of heaven unnoticed; when they treated us not as what we were, but as what we aspired to be.”
—Henry David Thoreau (1817–1862)