The Effects on Canada of Industrial Fluctuations in the United States

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Abstract
Some attention must first be given to the nature of the determination of the general levels of incomes, production, prices, and employment. Of course these levels are in some way or other affected by most things under the sun and are, in fact, merely statistical aggregates composed of millions of individual activities and transactions each determined by its circumstances, and all interdependent. Even if one concedes that some grouping is necessary to bring this chaos within the realms of description and analysis, it may still be urged, particularly in Canada and the United States, that regions and industries must be dealt with separately, that we cannot lump together production of wheat, newsprint, and houses and get any results of significance. While recognizing the validity of this contention, it has seemed necessary to use a number of familiar aggregative concepts in this paper.

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