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Mercantilism

Mercantilism is an economic theory and policy practised during Canada’s colonial periods. The theory of mercantilism holds that there is a fixed amount of wealth in the world. A nation’s wealth is thus dependent on exporting (selling to other countries) more than it imports (buying from others). European nations — including France and England (later Great Britain) — used this system to their advantage from the 16th century through the mid-19th century. The purpose was to extract as much wealth as possible from the colonies without investing much into them. The Atlantic slave trade is also inextricably linked to mercantilism. (See Black Enslavement in Canada.)

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Compagnie des Indes occidentales

The Compagnie des Indes occidentales was a trading company that drove France’s colonial economy from 1664 to 1674. Its name translates to West Indies Company. King Louis XIV gave the company exclusive rights to trade and govern in all French colonies. Its territory extended from the Americas to the Caribbean and Western Africa. In addition to natural resources such as furs and sugar, the Compagnie traded enslaved people.

This company is not to be confused with the French trading company founded by John Law and renamed Compagnie des Indes in 1719.

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Carbon Pricing in Canada

Carbon pricing refers to a cost that is imposed on the combustion of fossil fuels used by industry and consumers. Pricing can be set either directly through a carbon tax or indirectly through a cap-and-trade market system. A price on carbon is intended to capture the public costs of greenhouse gas (GHG) emissions and shift the burden for damage back to the original emitters, compelling them to reduce emissions. In 2016, Prime Minister Justin Trudeau announced a national climate change policy that includes a system of carbon pricing across Canada. Provinces can either create their own systems to meet federal requirements or have a federal carbon tax imposed on them. Nine provinces and territories have their own carbon pricing plans that meet federal requirements. Ottawa has imposed its own carbon tax in Alberta, Saskatchewan, Manitoba and Ontario.