Signing up enhances your TCE experience with the ability to save items to your personal reading list, and access the interactive map.
Create AccountArticle
In economics, a bubble refers to a rapid rise in asset prices, to the point that they become disconnected from the fundamental value of the underlying asset. A change in investor behaviour is the most common cause of a bubble. When many investors rush to invest in a new technology or take advantage of low interest rates, for example, the increased demand for the asset can raise the price far above its real worth.
"https://d3d0lqu00lnqvz.cloudfront.net/media/new_article_images/EconomicsSummaries/dreamstimeextralarge_45999989.jpg" // resources/views/front/categories/view.blade.phphttps://d3d0lqu00lnqvz.cloudfront.net/media/new_article_images/EconomicsSummaries/dreamstimeextralarge_45999989.jpg
Article
Financial services, as the name implies, are finance-related services that businesses provide to clients. In a Canadian context, the best example relates to the country’s large banks. The World Economic Forum ranked Canada’s large banks as the safest on the planet following the 2008 financial crisis.
"https://d3d0lqu00lnqvz.cloudfront.net/media/new_article_images/EconomicsSummaries/dreamstimeextralarge_132822077.jpg" // resources/views/front/categories/view.blade.phphttps://d3d0lqu00lnqvz.cloudfront.net/media/new_article_images/EconomicsSummaries/dreamstimeextralarge_132822077.jpg
Macleans
The meeting of hospital administrators last week in Toronto was overshadowed by a very personal issue: the participants' salaries.This article was originally published in Maclean's Magazine on April 15, 1996
"https://www.thecanadianencyclopedia.ca/images/tce_placeholder.jpg?v=e9dca980c9bdb3aa11e832e7ea94f5d9" // resources/views/front/categories/view.blade.phphttps://www.thecanadianencyclopedia.ca/images/tce_placeholder.jpg?v=e9dca980c9bdb3aa11e832e7ea94f5d9
Article
The gold standard is a monetary system in which the value of the currency unit (the Canadian dollar, for example) is defined in relation to the value of gold.
"https://www.thecanadianencyclopedia.ca/images/tce_placeholder.jpg?v=e9dca980c9bdb3aa11e832e7ea94f5d9" // resources/views/front/categories/view.blade.phphttps://www.thecanadianencyclopedia.ca/images/tce_placeholder.jpg?v=e9dca980c9bdb3aa11e832e7ea94f5d9
Article
Gross domestic product (GDP) refers to the value of all final goods and services produced within a country by all factors of production, regardless of their ownership, usually during one year. Statistics Canada switched to GDP in their calculations of national production in 1986 to facilitate comparisons with other international statistics as most other countries used GDP. Despite its limitations, GDP is considered the best and most concise overall measure of economic performance. It is often used to calculate changes in a country’s standard of living. The growth of inflation-adjusted GDP (known as real GDP) is an important economic performance indicator. The tracking of GDP over time is used as evidence of business cycle performance, as traditionally two consecutive quarters of negative real GDP growth are referred to as a recession. As well, the distinction is often made between the growth of total real GDP (known as extensive growth) and the growth of real GDP per person (intensive growth), with intensive growth often used as an indicator of welfare per person in an economy.
"https://d3d0lqu00lnqvz.cloudfront.net/media/media/6bd55c36-e3ea-4ede-b4b9-a93257b9f45f.png" // resources/views/front/categories/view.blade.phphttps://d3d0lqu00lnqvz.cloudfront.net/media/media/6bd55c36-e3ea-4ede-b4b9-a93257b9f45f.png
Article
Interest is the price charged to borrow money. Expressed as a rate, interest is a percentage of the amount of money borrowed (the principal amount) that is to be paid for an agreed period of time. Interest can be paid by a borrower to a lender (e.g., to a bank), but it can also be paid by a bank to individuals whose money the bank uses to lend money to other borrowers. In Canada, interest rates are determined by the policy of the Bank of Canada, the demand for loans, the supply of available lending capital, interest rates in the United States, inflation rates and other economic factors. The Bank of Canada helps the Canadian government manage the economy by setting the bank rate and controlling the money supply.
"https://d3d0lqu00lnqvz.cloudfront.net/media/media/99bc4ccc-b5e1-4256-af4b-ddd34d545346.jpg" // resources/views/front/categories/view.blade.phphttps://d3d0lqu00lnqvz.cloudfront.net/media/media/99bc4ccc-b5e1-4256-af4b-ddd34d545346.jpg
Article
Hudson's Bay Company found it necessary to devise a unit of value that would accommodate Aboriginal people's bartering to European bookkeeping methods
"https://d3d0lqu00lnqvz.cloudfront.net/media/media/3de41ff0-80b9-44c7-b85a-1bb3d3054580.jpg" // resources/views/front/categories/view.blade.phphttps://d3d0lqu00lnqvz.cloudfront.net/media/media/3de41ff0-80b9-44c7-b85a-1bb3d3054580.jpg
Article
The early years saw the Mint efficiently producing gold Sovereigns, Canadian coins and millions of ounces of refined gold. The Mint even produced gun parts for Britain during World War I.
"https://d3d0lqu00lnqvz.cloudfront.net/media/media/f81ef3b6-2306-4e8f-a2b7-15fdedbefee3.jpg" // resources/views/front/categories/view.blade.phphttps://d3d0lqu00lnqvz.cloudfront.net/media/media/f81ef3b6-2306-4e8f-a2b7-15fdedbefee3.jpg
Article
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.
"https://d3d0lqu00lnqvz.cloudfront.net/media/media/f1733c26-ebb9-45c6-be6b-aecf8c7a9503.jpg" // resources/views/front/categories/view.blade.phphttps://d3d0lqu00lnqvz.cloudfront.net/media/media/f1733c26-ebb9-45c6-be6b-aecf8c7a9503.jpg
Article
A Mortgageis a legal paper in which borrowers agree to surrender their property to a lender if they do not pay back the money they owe, with INTEREST.
"https://www.thecanadianencyclopedia.ca/images/tce_placeholder.jpg?v=e9dca980c9bdb3aa11e832e7ea94f5d9" // resources/views/front/categories/view.blade.phphttps://www.thecanadianencyclopedia.ca/images/tce_placeholder.jpg?v=e9dca980c9bdb3aa11e832e7ea94f5d9
Article
From 1858 to 1907 most issues of Canadian coins were struck at the Royal Mint in London, England, with additional issues from the Heaton Mint of Birmingham.
"https://d3d0lqu00lnqvz.cloudfront.net/media/media/bc71e340-f5ed-4737-ab93-f5c01058e39c.jpg" // resources/views/front/categories/view.blade.phphttps://d3d0lqu00lnqvz.cloudfront.net/media/media/bc71e340-f5ed-4737-ab93-f5c01058e39c.jpg
Editorial
The following article is an editorial written by The Canadian Encyclopedia staff. Editorials are not usually updated. Though Queen Elizabeth II has appeared on the $20 bill since she was eight years old, identifiable Canadian women have only appeared on a Canadian banknote once. In 2004, the statue of the Famous Five from Parliament Hill and Olympic Plaza in Calgary, and the medal for the Thérèse Casgrain Volunteer Award were featured on the back of the $50 note. They were the first Canadian women to appear on our currency. However, in 2011, they were replaced by an icebreaker named for a man (see Roald Amundsen). The new bill was part of a series of notes meant to highlight technical innovation and achievement, but the change sparked controversy. Other than the image of a nameless female scientist on the $100 note issued in 2011, and two female Canadian Forces officers and a young girl on the $10 bill issued in 2001 , Canadian women were absent from Canadian bills. On 8 March 2016, International Women’s Day, the Bank of Canada launched a public consultation to choose an iconic Canadian woman who would be featured on a banknote, released in the next series of bills in 2018. More than 26,000 submissions poured in. Of those, 461 names met the qualifying criteria, and the list was pared down to a long list of 12 and finally a short list of five. The final selection will be announced on 8 December 2016. But how did we get here?
"https://d3d0lqu00lnqvz.cloudfront.net/media/media/872b7e98-03f8-4457-85b8-5657ff4e4f65.jpg" // resources/views/front/categories/view.blade.phphttps://d3d0lqu00lnqvz.cloudfront.net/media/media/872b7e98-03f8-4457-85b8-5657ff4e4f65.jpg
