bluuebunny/crossref_metadata_2025_split huggingface dataset:
The Development of a Capitalistic Labour Market in Canada
Authors: Pentland H. C. 
Published: June 2006

It has been the custom of economists since the Mercantilists to assume the existence of a capitalistic labour market. It appears that this abstraction was adopted, not from ignorance of labour conditions–Malthus, who sponsored the bleakest model of a labour market, after all possessed exceptional knowledge of contemporary social conditions–but because it simplified the economists' main task, as they conceived it, of expounding how a capitalist economy works. The abstraction had the disadvantage, however, of diverting attention from how a capitalistic labour market might develop. This question, besides its historical and sociological interest, is relevant to the study of labour markets, and of “economic development.” Yet, in Canada, it has received only brief attention. This paper proposes a more detailed view of how our capitalistic labour market arose.By a capitalistic market is meant one in which the actions of workers and employers are governed and linked by impersonal considerations of immediate pecuniary advantage. In this market, the employer is confident that workers will be available whenever he wants them; so he feels free to hire them on a short-term basis, and to dismiss them whenever there is a monetary advantage in doing so. Hence, the employer takes no responsibility for the workers' overhead costs: labour, to the employer, is a variable cost. From a broader viewpoint, the capitalistic labour market represents a pooling of the labour supplies and labour needs of many employers, so that all of them may benefit by economizing on labour reserves. Economy is possible because the labour requirements of employers collectively are less than those of employers individually, to the extent that short-term needs for labour dovetail, and to the extent that a worker can stand as a reserve to many employers. When the demand and supply conditions of labour are dependable enough to permit this pooling, the overhead costs of labour can be transferred from individual employers to the market, that is, to the workers themselves and to the community at large. The essential historical aspect of the capitalistic labour market, then, is the development of the supply and demand conditions that will support it. Two questions are especially critical: How are workers induced to flow into the labour market pool? And how are they prevented from flowing out again?
Inflation in the Context of a Mixed Economy
Authors: Solo Robert 
Published: June 2006

It is increasingly clear that inflation cannot be explained simply by reference to changes in aggregate demand. Some economists have tried to distinguish between different “types of inflation” and to conceive of variations in the price level as the consequence of a multifunctional process. Dean Edward Mason, going deeper than most, explains changes in the general price level by the interaction of the highly diverse market structures of which the modern economy is composed. This paper, building on Mason's foundation, will relate the movements of the price level (including the so-called cost-push and demand-pull types of inflation) to the general process of allocating resources in the context of an economy composed of very diverse forms of market organization.It will be assumed that the economy consists of an oligopolistic sector and a competitive sector. Each market of the oligopolistic sector is served by large firms, each with a sufficient share of the given market to permit it to exercise, both as buyer and as seller, a significant influence on price and output. Price and the terms of sale are controlled as a matter of company policy, that is, are “administered.” It follows that, since price is administered, output and hence the influx of resources into the industry are similarly controlled.
The Midwestern Case: Canadian Gas and the Federal Power Commission
Authors: Aitken Hugh G. J. 
Published: June 2006

The historian of the future, in attempting to interpret developments in the middle years of the twentieth century, may well be appalled by the mass of documentary evidence that confronts him. Particularly is this likely to be the case if he is foolhardy enough to explore the decisions of governmental regulatory agencies and the processes by which such organizations undertook to define the public interest. These public bureaucracies, exposed to strong political pressures and staffed largely by lawyers, characteristically accumulate very large masses of testimony, oral and written, in the course of their hearings. Partly for reasons of expense, this testimony is seldom published, and the lay inquirer, if he delves into the morass, is more than likely to find himself confused rather than enlightened by the unfamiliar phraseology and by the sheer bulk of the record.Nevertheless, such agencies have come to play a very significant role in determining the rate and direction of economic development in the United States and Canada, and it is important that we should understand the kind of reasoning that underlies their decisions. The present inquiry stemmed initially from an interest in the Canadian natural gas industry, and from curiosity about the impediments that seemed to be delaying the export of Canadian gas to the United States.
The Political Economics of the Bank of Canada
Authors: Gordon H. S. , Read L. M. 
Published: June 2006

Central banks are unique institutions. Most of them, including the Bank of Canada, are endowed with powers and charged with responsibilities that are as heavy and as general as those of the most important departments of government. Yet, by contrast, they usually enjoy a legal status which provides them with a degree of autonomy that greatly exceeds that of any department. In a political system based on parliamentary and responsible government, a central bank is, indeed, almost a constitutional anomaly.A central bank, uniquely constituted or not, is a necessary organ of any monetary system based on an inconvertible paper currency. When money has a marginal cost of zero, it is necessary that the amount of the issue be limited by some means or another if its average market value is not also to become zero. Both logic and history seem to indicate that this limitation is best achieved by placing a monopoly of the note issue in the hands of a central bank or a similar agency. The creation of such a monopoly does not, of course, provide any indisputable answer to the important question of the degree of discretion which such an issuing authority might be permitted to enjoy. There are still some economists extant who advocate that the central bank be bound to a prescription so rigid that its role in the monetary system would be entirely mechanical. However, this view has a rather archaic quality. The dominant current opinion is quite different. Most economists and monetary analysts regard the central bank as, properly, an instrument of monetary management operating in an economy that requires, if it is to be stable and efficient, the continuous discretionary influence of such a management authority.
Language Differences and Occupational Experience
Authors: Brazeau E. Jacques 
Published: June 2006

Because Canada has a labour force composed of more than one language stock, it is of interest to ask what social organization has developed to take account of this pluralism in her work world. Such an interest may take two main forms. First, with respect to a language variable, differences in occupational opportunities may be seen as the sole problem of Canadian Indians and Eskimos, of French Canadians, or of New Canadians. Second, we may wish to find out how our different language groups achieve interdependence in actual work situations and with what consequences for society as a whole. It is the second approach which will be adopted here; in a sense it includes the first, since the problem of any group stems in large part from the ways in which groups act on each other. The groups to which I shall limit my discussion will be the English and the French Canadians, but my remarks will undoubtedly apply, at least in part, to groups who speak other languages.The view taken in this paper is that in our society, because English is the sole language which has currency in all aspects of social activity, people of different mother tongues have unequal opportunities for work. In a plural society, two consequences follow from the dominance of one language: a limited utilization of the potential skills of those who do not know the dominant language perfectly and a disengagement of the other mother tongues from important aspects of social reality.
The Market for Books in Canada
Authors: Wolfe J. N. 
Published: June 2006

The market for books in Canada is of some interest in itself and as an example of the competition between British and United States goods in an important area. But perhaps no apology is required for addressing an article on such a subject to an academic audience, many of whom have an active and substantial personal interest in the matter.The market for books in Canada is in reality several different markets, sometimes sharply differentiated on the side of the consumer, and often on that of the producer as well. There is, first of all, the division between French- and English-language books, bookstores, and publishers. Then there is the large and valuable market in school books, which is, in the main, dominated by provincial authorities and by a group of publishers catering to the very special and often parochial tastes of these bodies. The university market, though not so clearly differentiated, is coloured to some extent by the necessity of winning “adoptions” of a given text by the instructor, and by the importance of the university bookstore. There is again the substantial market organized by the United States book clubs. Even more important is the competing market in reprints and paperbacks. That sub-section of the English-language market on which most interest centres in this paper is that for so-called trade books, that is, books which are sold to the general reading public.
Sir Halford Mackinder: Theorist of Imperialism
Authors: Semmel Bernard 
Published: June 2006

Halford John Mackinder, who has enjoyed considerable recognition as a founder of modern geographical study, achieved a widespread renown over a decade ago as the pioneer of the “science of geopolitics” of which Hitler had become a disciple. His other accomplishments, however, have been rather neglected, especially his work as an economic theorist and politician. At the beginning of the century, Mackinder was a principal spokesman for the Liberal-Imperialists; he was, in fact, well on his way toward a cabinet post. As a free trade Imperialist, he described with unusual insight the imperialism of capital export, anticipating at some points the later analysis of Hobson and the neo-Marxists, Hilferding and Luxemburg. Then, after a remarkable and sudden conversion to the Chamberlain programme of protection, he demonstrated a similar grasp of the rival neo-mercantile imperialism, and became one of its leading public advocates.Mackinder was born at Gainsborough in 1861. His father was a doctor and, his first interests being in the field of science, he accepted, in 1880, a junior studentship in physical science at Christ Church, Oxford, where he intended to specialize in biology. While at Oxford, Mackinder discovered how broad and varied were his interests and his talents. He read for two honours schools, natural science and modern history, and for the bar–he was called at the Inner Temple in 1886. More and more, however, he devoted himself to geography, a subject to whose acceptance as an academic discipline he was to make so signal a contribution.
Regional Decentralization of Government Departments in Britain
Authors: Harris John S. 
Published: June 2006

Vast changes have been wrought in the British governmental machinery during the past quarter-century—alterations in scope, structure, and administrative procedures made necessary in part by the rigours of economic depression and war and further intensified by the demands of an emerging welfare state. Of these changes one of the more significant has been the development by the central government departments of a complex and intricate system of regional organization to decentralize many of their more important functions. Today “administrative regionalism” characterizes the administration of fifteen major government departments. On January 1, 1956, 16,318 non-industrial civil servants (the national total was 636,771) were stationed outside Whitehall in regional offices established in eleven “regional capitals” and were working (with minor exceptions) in uniform geographical areas in accordance with established government policy. Several hundreds of thousands of the other civil servants were employed in local offices, such as post offices, employment exchanges, national insurance offices, pensions offices, district works offices, and so on. Some departments have regional offices and local offices; others have regional offices only.Decentralization of national programmes is unavoidable if governmental machinery is to function at all effectively. This is true not only in democracies, but also in countries under authoritarian rule, such as the Soviet Union. The administrative problems encountered in the decentralization of governmental functions are many. The purpose of this article is to examine Britain's experience in order to secure answers to a number of important questions. Why has it been necessary for the British to establish a system of regional administration? To what extent can the responsibilities of a national government be decentralized? What form does such decentralization take—policy formation, or administration and execution, or both? What type of administrative organization has been developed on the regional level? How is the work of a particular ministry in each of the eleven regions co-ordinated and to what degree have procedures been devised for standardizing work programmes throughout the country? Within a given region, how are matters that concern two or more departments dealt with?
Capitalization and Profitability in Canadian Banking
Authors: Moore B. J. 
Published: June 2006

In view of the approaching revision of the Bank Act in 1964, it may now be appropriate to re-examine contemporary opinion and practice concerning commercial bank capital. It is tempting to inquire whether there is an optimum ratio of capital to assets towards which commercial banks should aim. The traditional economic function of capital accounts has been to protect bank depositors against loss caused by depreciation of bank assets. “Bank capital is in effect a first line of deposit guarantee. Any supervisory standard for measuring capital adequacy should be expressed in terms of the function of bank capital. The function of bank capital is to protect the bank creditors, mostly depositors, against ultimate loss.”Taking a literal view of this function, supervisory authorities in the United States came to apply a standard ratio of capital to deposits of 10 per cent; “there appears to be no scientific basis for this particular ratio. It is simply a good round decimal, easy to calculate at a glance.” Then, as the capital: asset ratio fell substantially with the increase of bank holdings of government securities, a capital: asset standard was suggested. Since losses result from asset depreciation, and bank assets do not all involve the same degree of risk, assets seemed a more relevant guide to capital requirements than deposits. Such an assets standard would not indicate a need for more capital until earning assets of some inherent risk were being acquired. Incidentally, if protection of assets were the accepted function of bank equity, it would only be that portion of capital funds in excess of fixed assets which would be relevant for the numerator.
The Representative Firm and Imperfect Competition
Authors: Hollander Samuel 
Published: June 2006

In a recent paper, J. N. Wolfe has interpreted P. Sraffa as having exposed a logical inconsistency in Marshall's Principles of Economics. According to Wolfe, Sraffa interpreted Marshall as being concerned with perfect competition and yet as allowing his representative firm to possess unexhausted internal economies; he therefore believed that Marshall was inconsistent, for the two phenomena are incompatible. Wolfe himself interprets the Marshallian representative firm as an oligopoly model.This note discusses the following points. First it will be shown that Marshall's model when discussing increasing returns and the representative firm involved neither perfect competition nor oligopoly but imperfect competition. Second, I shall argue that the representative firm was largely designed to describe the problems which exist when product differentiation is recognized but when the industry is retained as a meaningful concept. That is, Marshall faces the same difficulties as those faced by J. Robinson and E. Chamberlin, but his solution involves a different approach. This is not to suggest that there was no need for the Robinson and Chamberlin volumes; indeed their appearance, together with Sraffa's article, reflected the unsatisfactory state in which Marshall left his analysis on this topic. Third, it follows from our interpretation that for Marshall the representative firm was a structure of the mind, a tool of analysis, and not a real firm. To clarify his views, I reproduce certain passages from which it is clear that he is not guilty of logical inconsistency either in the case of actual firms, or in the case of the representative firm.
Organisation Sociale et Valeurs Culturelles Canadiennes-Françaises
Authors: Garigue Philippe 
Published: June 2006

L'orientation culturelle des Canadiens-français est devenue une des questions les plus importantes de l'analyse sociologique de ce groupe ethnique. Ainsi une des tâches principales des sociologues qui se sont intéressés à la question a été le développement d'une définition de la culture canadienne-française. Cependant, malgré l'ampleur et le nombre des travaux publiés, il n'existe pas de synthèse permettant une vue d'ensemble de la question. Notre but dans cet article est de formuler les étapes nécessaires à une présentation synthétique de la culture canadienne-française du point de vue de ses fondements sociologiques. Ce que nous allons dire ne prétend pas être une analyse complète de la question. Nous avons voulu retenir dans notre présentation, et de l'ensemble des situations et des problèmes susceptibles d'être examinés, seulement ceux qui nous semblent soit particulièrement importants, soit nettement révélateurs. Nous avons donc conscience d'être incomplet, mais nous pensons pouvoir présenter l'essentiel de la question.Pour les fins de la présentation nous avons divisé notre article en trois parties que nous jugeons d'égale importance. Les deux premières parties consistent en une analyse: premièrement, de la tradition culturelle de la Nouvelle-France; et deuxièmement, des traditions culturelles nées après la Conquête de 1760. La troisième partie consiste en une analyse de la conjoncture culturelle actuelle. Il existe une raison fondamentale à faire précéder l‘analyse « synchronique » par une analyse « diachronique »: sans l'analyse des traditions culturelles il est pratiquement impossible de saisir la conjoncture sociologique actuelle, et ceci en raison des ambiguités qui existent aussitôt que l'on veut définir ce qu'est le Canada français du point de vue politique ou géographique, ou même purement sociologique. Mais, en partant de l'analyse des traditions culturelles il est possible d'établir les grandes lignes de ce qu'est présentement le Canada français du point de vue de la culture canadienne-française. Nous procéderons de la même manière dans l'analyse de chacune des parties de la présentation. Nous essaierons de faire le point sur la documentation en existence et nous émettrons des conclusions.
Canadian Life Insurance Companies and the Capital Market, 1890–1914
Authors: Drummond Ian M. 
Published: June 2006

In this paper I propose to examine the placement policies of Canadian life insurance companies, and the campanies' place in the Canadian capital market, during the period of rapid agricultural and industrial development which preceded the First World War. It is no longer possible to maintain, as Buckley could maintain in his study of capital formation, that before the War Canada had a very undeveloped domestic capital market. McIvor's recent work has increased our knowledge of Canadian financial history, a subject strangely neglected since the work of Shortt and Breckenridge some sixty years ago. Kilbourn's study of the Steel Company of Canada has provided valuable evidence on the early stirrings of our capital market. I have argued elsewhere that these stirrings were both vigorous and significant for Canadian economic development before 1914, and that particularly in the field of government finance they cannot sensibly be ignored. The following pages discuss selected aspects of the financial history of this most interesting period. I shall try to show not only what the life insurance companies were doing with their funds but why they were doing what they did. The paper concludes with some reflections on the social rationality of their investment policies.First, some description of the Canadian life insurance companies themselves. By 1895 they already bulked large on the domestic scene, though not so large as the chartered banks. Their assets were valued at $32,000,000 in 1895, and their annual premium income then amounted to $5,703,000 from domestic business and $595,000 from foreign business. By 1914 the companies' assets were worth $257,800,000, their annual domestic premium income was $26,047,000, and their foreign premium income was $12,680,000. Throughout this period they faced vigorous competition from British and especially from American firms, which collected 45 per cent of the total Canadian life insurance premia in 1895 and 40 per cent in 1914.
The Taxation of Capital Gains: An Economic Analysis
Authors: Goffman Irving J. 
Published: June 2006

Few areas of taxation have been the subject of more controversy than capital gains and losses. In some countries, Canada for example, capital gains are excluded from the concept of taxable income, while in others such gains are partially excluded or are subjected to preferential tax rates. This article is divided into two parts. The first deals with the economic nature of capital gains and the relation of these gains to ordinary income. The second examines critically the arguments for and against the taxation of such gains. Basically, it will be argued that there is no fundamental fiscal difference between capital gains and “ordinary” income which could justify preferential tax treatment of the former. While the two types of personal economic accretion exhibit superficial distinctions, these are of little, if any, relevance from the standpoint of the income tax. It is admitted that more complete taxation of capital gains will present some complications. While the problems are suggested, their solutions are properly left to the lawyer, accountant, and legislator. Suffice it to say that solutions exist.The conceptual distinction between capital gains and ordinary income has been described as follows:In both law and common speech, capital gains are generally regarded as the profits realized from increases in the market value of any assets that are not a part of the owner's stock-in-trade or that he does not regularly offer for sale; and capital losses, as the losses realized from declines in the market value of such assets. Ordinary profits and losses, in contrast, are realized on the sale of goods and services that are a part of the seller's stock-in-trade or that he regularly offers for sale.