The Rise of Canadian Business essay

The Rise of Canadian Business essay The Rise of Canadian Business essay The Rise of Canadian Business essayThe book The Rise of Canadian Business by G.D. Taylor focuses on the historical development of business and Canadian economy in the post-confederate era. At the same time, the author offers a broad overview of the economic development paying a particular attention to the development of Canadian economy in the mid-20th century and present. Throughout the book the author develops the idea that Canada relied heavily on export of resources that laid the foundation to the current economic power of Canada, while open market economy allows Canada and Canadian companies to keep progressing, evolve and adapt to changing business environment from the time of business consolidation and increasing role of state to the present era of the economic globalization.In fact, the book has three major themes that the author conveys clearly and divides into three chronological periods. These themes are the evolving patterns of business organization, the distinctive featu res of Canadian business, and its international setting. The author describes the evolution and development of Canadian economy throughout the 20th century mainly. Taylor shows that the consolidation of business made it so influential that the government regulation and interference into the economic development became essential. This interference was essential to stand for interests of the majority of people in Canada rather than for interests of a few large corporations. At the same time, along with economic changes, the author points out that the development of business and business consolidation threatened to the environment and future of Canada because business consolidation was accompanied by the intensive use of natural resources, extraction of minerals, and deterioration of the environmental situation because businesses exploited rich natural resources of Canada without any control from the part of the state. In this regard, Taylor views natural resources of Canada as the maj or asset of Canada that contributed to its economic growth.The same idea of the primary role of natural resources as the primary driver of the economic growth of Canada could be traced in other parts of the book dedicated to the increasing involvement of state into the economic regulation and development and the present era of globalization. In such a way, Taylor backs up his thesis and attempts to show that natural resources comprise the major asset of Canada and lays the foundation for the further economic growth throughout its economic history in the 20th as well as the 21st century. This idea is very important for the entire book and is one of the main messages conveyed by the author. At the same time, the author develops the concept of the state regulation as an essential condition for the balanced exploitation of natural resources by businesses. Even today, when the globalization has brought considerable changes to the economic development of Canada, Taylor still views natural resources as an important asset that can keep Canadian economy growing.However, the author underestimates services sector and its contribution to the economic development of Canada, especially now. For example, the author mentions that two largest insurance companies are ranked among top ten insurance companies of the world, but still Taylor does not develop this   idea further to show the increased role of services, which may become as significant driver of the economic growth of Canada as natural resources do.Thus, the book depicts the economic development and gives the comprehensive analysis of the evolution of Canadian business from business consolidation to globalization, but the author seems to be too concerned with natural resources as the major source of the economic growth of Canada and underestimates the potential of services in the global competitive environment.