Canada and the Distribution of Wealth

The Distribution of Wealth

• This is the comparison of the wealth of members of a society.

• In general we can say that 1% of adults owned 40% of the world’s assets.

• 10% of the richest adults owned 85% of the world’s assets.

• These numbers have caused many to believe that the world’s wealth is unevenly distributed.

The Rise of the Occupy Movement1. What is meant by the references to the 99%?2. Why did Occupy Wall Street start? What were the protesters

concerned about?3. What did billionaire Warren Buffet ask Congress to do to the 1%?4. Describe the Occupy movement in Canada.5. What did some neighbourhoods want the protesters to go home?6. Why was it unlikely that Occupy protesters would be charged with

something like trespassing after they set up their camps? What legal protection did they have?

7. How did the camp for occupy Toronto change over the course of the protest?

8. Did Occupy Toronto protesters leave their camp willingly? How did they respond to the police the day they showed up to evict them from the camp?

• Canada is one of the wealthiest nations in the world which means that economically our nation has a lot of influence over other nations.

• This influence allows Canada to persuade and pressure other nations into adopting policies that Canadian society agrees with.

• For example, Canada (allow with other nations) cut off economic relations with Libya during Gaddafi's regime. Recently, Canada has sought out to establish economic relations with the new Libyan government.

• Canada is a member of the Group of Eight (G8).

• The G8 is made up of the eight largest economies in the world. Other members include: France, Germany, Italy, Japan, the UK, and the US.

• The G8 countries make up just over half of the world’s gross domestic product (GDP).

• However, in recent years Brazil’s, China’s, and India’s economies have surpassed Canada’s and Italy’s economies.

G8 and the Distribution of Wealth.• One of the biggest controversies the G8 faces is

the distribution of wealth in the world.• The G8 controls most of the world’s GDP and most

of the debt of developing nations.• This has lead to controversy because developing

nations have been spending most of their GDP paying off debts owed to the G8.

• Many people see this as hypocritical and want the G8 to cancel world debts.

• The G8 has agreed to write off a large amount of world debt, but not cancel it.

• What is NAFTA?• Which countries trade with Canada?• Define service industries.• Define manufacturing industries.• Define natural resources industries.