Search for "Industrial Revolution"

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Industrialization in Canada

Industrialization is a process of economic and social change. It is one that shifts the centres of economic activity onto the focus of work, wages and incomes. These changes took two forms in Canada, beginning in the 19th century. First, economic and social activities were transformed from agriculture and natural resource extraction to manufacturing and services. Second, economic and social activities shifted from rural cottage industries to urban industrial pursuits. Industrialized production took place under the privately owned factory system, in which a larger proportion of the population expected to be wage earners for all of their working lives. Therefore, industrialization brought major changes, not only in work and the economy, but in the way society was organized and in the relations among different groups in society. Although it has evolved over nearly two centuries, the process of industrialization is considered revolutionary — as the term Industrial Revolution suggests — because it marked the shift from feudalism to capitalism, and from agriculture to manufacturing and services — changes that fundamentally altered human existence.

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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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Capitalism in Canada

Capitalism is an economic system in which private owners control a country’s trade and business sector for their personal profit. It contrasts with communism, in which property effectively belongs to the state (see also Marxism). Canada has a “mixed” economy, positioned between these extremes. The three levels of government decide how to allocate much of the country’s wealth through taxing and spending.

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Canada and the Digital Economy

The digital economy is the economic activity conducted through digital technologies such as the Internet. It is also called the Internet economy, the new economy or the web economy. Many scholars see the digital economy as the fourth industrial revolution. As of 2013, it consumed approximately 10 per cent of the world’s electricity. Many of the world’s biggest companies operate in the digital economy. A growing number of Canadians depend on it for their livelihood. In 2017, nearly 5 per cent of all jobs in Canada were in the digital economy. The gross domestic product (GDP) connected to it represented 5.5 per cent of Canada’s total economy — a bigger percentage than mining or oil and gas extraction. However, the often-hidden infrastructure of the digital economy brings new threats to the environment. The rise of cryptocurrencies could also dramatically change how people buy and sell things.