Pages 13 (3263 words)
Economic development of a country or a state refers to the positive growth of factors that result in enhancing productivity. These factors can be manual labour, capital, technology and real estate or land. Economic development can be viewed differently in various contexts…
Economic base, staple, sector, growth pole, neoclassical growth, inter-region trade, product cycle, entrepreneurship and flexible production are a few existing theories that explain economic development1.
The economic history of Canada shows its dependence on fur trade, fisheries and lumbering industries, dependent on waterways transport till mid nineteenth century. Later, with the advent of steam and rail transportation, wheat and flour, paper and pulp, mining and timber industries became significant. However, the industries depended basically on natural resources with limited or without any processing. Staple thesis, as formulated by economic historians like Harrold A Innis and WA Makintosh, provides significant insight to the economic development of Canada. The thesis defines export-oriented economic growth of staple or natural products like furs, fisheries and timber and contributes towards political and cultural structuring.
The works of Harold A Innis (1894-1952), a political economist, have been inspiring in the field of economic history and communication. His initial works related to the expansion and establishment of staple theory, originally conceived by Makintosh. ...