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Great Depression as Great Shame of Canada: Causes and Effects

The Great Depression will always be remembered in the history of the U.S. and Canada as one of the darkest and most desperate times. However, for Canada, the economic recession observed on the nationwide level, also elicits an overwhelming feeling of shame for a good reason. Unless the excessive focus on capitalist values without due care and concern for the needs of the population and the absence of social programs for support had been established as the default attitude, Canadian citizens would not have been suffered the Great Depression to the extent that they did.

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The Great Depression took a tremendous and exhausting toll on Canadian citizens and economy. According to the statistical data released by the Canadian government, the levels of Canadian gross National expenditure dropped by 42%, which implies that a massive number of people crossed the threshold of poverty (O’Rourke 360). In retrospect, the severity of the outcomes was defined by the focus on overconsumption and the active promotion of consumerism within the Canadian entrepreneurship and states economy policies (Breau 358). As a result, social welfare projects were drastically underfunded, causing people to suffer tremendously as the great depression occurred (Breau 359). With employment rates plummeting, and nearly 30% of Canadians becoming unemployed, the country was experiencing an economic disaster of an unprecedented scale (Rashid 108). Thus, the great depression was a tragic yet predictable lesson for the Canadian government in regard to creating an effective framework for social welfare.

If some thought had gone into the development of social programs and shifting the focus toward citizens as opposed to entrepreneurship, the Canadian government would have been able to control the Great Depression recession slightly better. Therefore, there is a major reason for Canada to view the subject matter as the source of profound shame. However, the Great Depression outcomes should also be seen as an important lesson in managing the state economy and securing the safety of vulnerable populations.

Works Cited

Breau, Sébastien, et al. “In the Footsteps of Mackintosh and Innis: Tracking Canada’s Economic Centre of Gravity since the Great Depression.” Canadian Public Policy, vol. 44, no. 4, 2018, pp. 356-367.

O’Rourke, Kevin Hjortshøj. “Economic History and Contemporary Challenges to Globalization.” The Journal of Economic History, vol. 79, no. 2, 2019, pp. 356-382.

Rashid, Muhammad. “International Financial Credit Crises; Lessons from Canada.” Journal of Economics Bibliography, vol. 7, no. 2, 2020, pp. 100-110.

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StudyCorgi. "Great Depression as Great Shame of Canada: Causes and Effects." December 29, 2022. https://studycorgi.com/great-depression-as-great-shame-of-canada-causes-and-effects/.

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StudyCorgi. 2022. "Great Depression as Great Shame of Canada: Causes and Effects." December 29, 2022. https://studycorgi.com/great-depression-as-great-shame-of-canada-causes-and-effects/.

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