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Money in Canada

Money consists of anything that is generally accepted for the settlement of debts or the purchase of goods or services. The evolution of money as a system for regulating society’s economic transactions represented a significant advancement over earlier forms of exchange based on barter, in which goods and services are exchanged for other goods or services. Canadian money has its roots in the Indigenous wampum belts of the East, the early currencies of European settlers and the influence of the United States.

Click here for definitions of key terms used in this article.

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Business Elites

The role of business elites has never been as straightforward in Canadian society as it has in countries with longer histories and more clearly defined class systems.

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Agriculture in Canada

Agriculture is the practice of growing crops and rearing animals mainly for food. Farmers also produce other items such as wool from sheep and CBD oil from hemp plants.

In Canada, agriculture is an important industry. Only about 7 per cent of Canada’s land can be farmed. Other marginal (poorer) land can be used to ranch cattle. Aquaculture operations are found on the East and West Coasts and in the Great Lakes. Some crops such as tomatoes, cannabis and flowers are grown in greenhouses in urban centres. Canadian agriculture faces many challenges. Some of these challenges concern crop protection, soil conservation, labour, climate change and health.

Click here for definitions of key terms used in this article.

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Economic Immigration to Canada

Canada’s current and future prosperity depends on recruiting immigrants. Newcomers fill gaps in the Canadian workforce, build or start businesses and invest in the Canadian economy. Economic immigrants include employees as well as employers. They mostly become permanent residents when they immigrate to Canada. Not included in this class are the many temporary foreign workers who contribute to Canada’s economy.

Economic immigrants bring talent, innovation, family members and financial investments to Canada. They also enrich the country’s culture, heritage and opportunities. Technological progress, productivity and economic growth all benefit from these newcomers. Studies show that they have little to no negative impacts on wages for other workers in the country.

The 2016 Census identifies 2,994,130 economic immigrants in Canada. This represents about half of the total of 5,703,615 immigrants counted in that survey. (See also Immigration to Canada.)

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Baking Industry

The Canadian baking industry consists of companies that manufacture bread, cakes, pastries and similar perishable bakery products.

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Industry in Canada

Industry, in its broadest sense, includes all economic activity, but for convenience commentators divide it into three sectors: primary, secondary and tertiary.

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Fraser River Gold Rush

In 1858, around 30,000 gold seekers flooded the banks of the Fraser River from Hope to just north of Lillooet in British Columbia’s first significant gold rush. Although it dissipated by the mid-1860s, the Fraser River Gold Rush had a significant impact on the area’s Indigenous peoples and resulted in the Fraser Canyon War. Fears that the massive influx of American miners would lead the United States to annex the non-sovereign British territory known as New Caledonia also resulted in the founding of British Columbia as a colony on 2 August 1858 (see The Fraser River Gold Rush and the Founding of British Columbia). By the mid-1860s, the Fraser Rush collapsed, and British Columbia sank into a recession.

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Woven Textiles

Canada has a rich history of weaving stretching back to the precontact Indigenous peoples and enriched by each succeeding wave of immigrants.

Macleans

Rogers Cable Apologizes

This article was originally published in Maclean’s magazine on January 16, 1995. Partner content is not updated.

It may well go down as one of the rockiest product launches in the history of Canadian television. On Jan. 1, cable companies across the country began offering their 7.5 million subscribers seven new Canadian-owned specialty channels.

Macleans

Martin's 1996 Budget

This article was originally published in Maclean’s magazine on March 18, 1996. Partner content is not updated.

If Martin has his way, there will be one more budget - if only because he could then announce the virtual elimination of the federal deficit by the turn of the century.

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The Great Depression in Canada

The Great Depression of the early 1930s was a worldwide social and economic shock. Few countries were affected as severely as Canada. Millions of Canadians were left unemployed, hungry and often homeless. The decade became known as the Dirty Thirties due to a crippling droughtin the Prairies, as well as Canada’s dependence on raw material and farm exports. Widespread losses of jobs and savings transformed the country. The Depression triggered the birth of social welfare and the rise of populist political movements. It also led the government to take a more activist role in the economy.

(This is the full-length entry about the Great Depression in Canada. For a plain-language summary, please see Great Depression in Canada (Plain-Language Summary).)

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Impact of COVID-19 on Remote Work at Canadian Businesses

During the COVID-19 pandemic, many Canadians have worked from home. This shift to remote work has aimed to slow the spread of the coronavirus by reducing contact between people.

To gauge the impact of the pandemic on remote work at Canadian businesses, Statistics Canada conducted a nationwide survey in 2020. The graphs below show some of its findings. The first graph shows the percentage of businesses, in each province and the three territories, that had more than half of their workforce working remotely a) before the pandemic and b) on 29 May 2020, during the pandemic. The second graph shows the percentage of businesses which expected that more than half their workforce would continue to work remotely after COVID-19.

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Inco Limited

Inco Limited was a Canadian mining company and the world’s leading producer of nickel for much of the 20th century. In October 2006, Inco was purchased by the Brazilian mining company Vale for $19.4 billion.

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Trades and Labor Congress of Canada

Founded in 1883, the Trades and Labor Congress of Canada (TLC) was the first union central to take lasting root in Canada. Principally bringing together craft unions, the TLC was the largest workers’ organization in Canada at the turn of the 20th century. The TLC saw its membership fluctuate in the 20th century because of the fierce competition between national and international unions and the rise of industrial unionism. In 1956, the organization merged with the Canadian Congress of Labour to become the Canadian Labour Congress.

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Fiscal Policy

Fiscal policy is the use of government taxing and spending powers to manage the behaviour of the economy. Most fiscal policy is a balancing act between taxes, which tend to reduce economic activity, and spending, which tends to increase it — although there is debate among economists about the effectiveness of fiscal measures.

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Agriculture and Food

Canada's agriculture and food industries have changed greatly in the years since the Second World War. Growth in Canada’s economy, and associated social changes, have altered the way food is produced, processed, handled, sold and consumed.

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Company Towns

Company towns, important in Canada's capital formation and industrialization, urban development, and trade-union movement.