9th February 2013
The year was 1947. World War II had come to an end, and nations across the globe were rebuilding. For Canada, that meant a return to free market capitalism after years of government-mandated freezes on wages and the price of goods and services. Looking to recover from nearly a decade of thin profit margins, companies began to raise the price on everything from vegetables to automobiles, sending inflation through the roof, and putting a crunch on everyone’s pocketbooks.
The problem, of course, was government actions that lessened the value of the ‘money’ that was ripped loose from the discipline of gold. But government never gets blamed for the problems it causes; it lets businesses who are trying to cope with those problems take the rap.