The fur trade and mercantilism significantly contributed to the formation of Canada's first modern economy by establishing a network of trade that integrated Indigenous populations, European settlers, and global markets. The fur trade, primarily driven by companies such as the Hudson's Bay Company and the North West Company, facilitated not only the exchange of goods—such as fur for European manufactured items—but also the development of infrastructure, including trading posts and later cities along key waterways. This economic activity fostered a reliance on mercantilist principles, where the Crown sought to maximize its wealth through the export of raw materials and the import of finished goods, creating a cycle that stimulated local economies. Furthermore, the inclusion of Indigenous peoples as vital partners in the trade system not only expanded the market but also influenced economic practices, leading to a diversified economy that laid the groundwork for modern Canadian commerce. Consequently, the intertwining of fur trading dynamics and mercantilist policies truly shaped an early capitalist framework in Canada that would evolve and adapt into the modern economy we recognize today.
Social Grade 10 Position Paper: The fur trade and mercantilism largely led to the creation of the first modern economy in Canada because... Argument 2 with supporting evidence all in one paragraph
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