The United States and Canada together account for more than $23 trillion in global GDP growth. The wealth of each country resides in a political and commercial environment largely dominated by capitalism and buttressed by a robust financial ecosystem. But Wall Street and Bay Street represent two divergent schools of thought on capital markets, the role of regulation and market operations. Economic historians Joe Martin and Chris Kobrak highlight how the American and Canadian financial models developed and examine the institutional, cultural, political, and economic forces that shaped their growth and trajectory. Students of history, business executives and financial professionals will appreciate this detailed and perceptive analysis of US and Canadian finance.
In this summary, you will learn
- Why the Canadian and US financial systems differ,
- How these divergences have unfolded over generations, and
- What lessons leaders can glean from the historical record.
About the Authors
The late Christopher Kobrak was a business history professor at the Rotman School of Management. Joe Martin directs the Canadian Business and Financial History Initiative at the Rotman School of Management.