<u>Effects of laissez-faire capitalism:</u>
- Laissez-faire capitalism allows companies to compete freely with each other in an open marketplace.
- Without costs of government regulation, businesses can grow faster.
- This leads to price increases for the consumer and the lack of diversification in the marketplace.
- Without restrictions from the government, there is more incentive for innovation, and technological advances can take place.
- This can result in a large wealth gap in a society with a few very rich people in control of the majority of the economy's wealth.
- Capitalism (or laissez faire) feeds and clothes and houses more people at higher levels than any other system.
- Workers have more rights, and have a comfortable work environment.
- Lots of government involvement and regulation raises cost and slows growth.
The name “Canada” likely comes from the Huron-Iroquois word “kanata,” meaning “village” or “settlement.” In 1535, two Aboriginal youths told French explorer Jacques Cartier about the route to kanata; they were actually referring to the village of Stadacona, the site of the present-day City of Québec. For lack of another name, Cartier used the word “Canada” to describe not only the village, but the entire area controlled by its chief, Donnacona.
The name was soon applied to a much larger area; maps in 1547 designated everything north of the St. Lawrence River as Canada. Cartier also called the St. Lawrence River the “rivière du Canada,” a name used until the early 1600s. By 1616, although the entire region was known as New France, the area along the great river of Canada and the Gulf of St. Lawrence was still called Canada.
Soon explorers and fur traders opened up territory to the west and to the south, and the area known as Canada grew. In the early 1700s, the name referred to all French lands in what is now the American Midwest and as far south as present-day Louisiana.
The first use of Canada as an official name came in 1791, when the Province of Quebec was divided into the colonies of Upper Canada and Lower Canada. In 1841, the two colonies were united under one name, the Province of Canada.
