Transcript Presnentation

Economic Development
(gap between rich and poor)
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
Jerry
Kevin
Albert
What is Economic Development?

Economic development usually refers to the adoption of new
technologies, transition from agriculture-based to industrybased economy, and general improvement in living standards.
(There's a connection between this and HDI factors)
HDI Factors

Health: Life expectancy at birth

Education index: (expected) Years of schooling
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Standard of living: GDP per capita
How does development occur?
Economic development occurs when:
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development of infrastructure
(transportation, banking)
technological improvements take place
Traditional
economies,
economies
economies
eventually
transform
transform
into
into
developing
developed
Development factors

abundance of natural resources
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free and fair political system

high rates of literacy

open attitude towards change
Why are some rich and others
poor?
Canada for example...
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When Canada built the transcontinental railway in the
1880s, this (transportation infrastructure improvement)
led to increasing growth in business
Let's talk bout politics
Cap VS Com
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-Communism is a
in which all of the
goes into a pool
fairly distributed to
-capitalism is a system where
people are able to compete
in business freely and keep
all of their earnings
-capitalism allows for people
to easily become rich while
this will increase the gap
between rich and poor
-If
managed
improperly
Capitalism will allow a small
group
of
rich
people
to
control all of the wealth


system
money
and is
all the
people
-Originally designed as the
fairest political system, if
used improperly will allow
for a small group of
people to take control and
possibly turn it into a
dictatorship
USA & China
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-some
of
the
largest
economies in the world

-also
with
a
large
gap
between poor and rich people
-there is a large amount of
debt that the US must pay
off while they continue to put
spending
into
military
and
less
into
healthcare
and
schooling
-most states of
near bankruptcy
the
US
are
-alleged communism but in
reality is mostly capitalist
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-world's second largest
economy with similar
problems to the US
-Currently still a nation in
development, there is
regardless a very high gap
between rich and poor,
with many government
officials in corruption
Canadian economic history
Pre War
Boom
The Great
Depression
WWI and
Roaring 20s
Boom
years
Second
World
War
Recent
years
Pre War Boom
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Canadian economy improved dramatically
from 1896 to 1914 Canada had the world's fastest growing
economy
settlement of the west was a cause of boom
WWI and the roaring 20s
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the First World War led to further boom from an increase in
manufacturing
war supplies
weapons
By 1920s, a increase in Canadian Standard of living occured
because goods such as radio, automobiles and electric lights
were invented (technological improvement)
The Great Depression & Second
World War
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GDP declined, low population growth and high
unemployment as well as increased crime rate
unemployment problem disappeared as soldiers
were recruited and factories turned to war
production
Boom Years
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Economical expansion for Canada
After 1945, Alberta and Saskatchewan's economies are
transformed by the discovery of oil (Natural resources)
Established the Canada Pension Plan and funded health
care (reduces UE% and generates GDP)
Canadian economy became close with Americans as
agreements such as NAFTA are signed
Recent Years
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Massive government deficit in early 1980s and early 1990s
After the economic slump from 1995-1996 the Canadian
economy improved with surpluses every fiscal year up to
2008
the 2008 economic crisis did not affect Canada as the
Americans —> led to recession
After 2008 downturn, the Canadian economic growth has
been concentrated in the oil, real estate and income trust
sectors
Summing up....
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Through a whole series of historical events from the past,
some people became rich while others stayed poor.
Rich people in Canada...
Names
Net Worth
Involvment?
Thomson Family
$30,738,353,336
Holder
of
Thomson
Reuters, Woodbridge Co.
Galen Weston
$11,381,211,635
George
Weston,
Associated British Foods,
Holt Renfrew
Irving Family
$8,228,039,229
Irving Oil, J.D. Irving
James Pattison
$7,875,807,140
Jim Pattison Group
Rogers Family
$7,404,572,651
Rogers Communicatioons
Saputo Family
$6,240,002,796
Saputo, Transforce (dairy)
Cool interesting STATs
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in 1998, approximately five million Canadians lived in poverty
(16% of population)
2001 Canadian census, 20% of population in Vancouver lives below
poverty line
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Our Downtown East-Side is one of the most poverty stricken
neighbourhoods in all Canada
People on Downtown Eastside have the lowest per capita income in all of
Canada
Shaughnessey, our west side, is one of the wealthiest neighbourhoods in
all of Canada
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top 20% in Canada earned an average of $98,000 while bottom 20%
earned $4000
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Top 1% of people in Canada owns almost as much as bottom 80%
How Do We decrease the gap?
Why Don't we:
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Invest in early childhood education
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Have sex equality: women's rights
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Tax rich at reasonable rate
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Give money to
individuals, etc)
the
poor
(through
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Invest in infrastructures
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Improve on health care system
government,