United States Investment in the Canadian Economy
| Date | 01 June 1972 |
| Author | Paul Wonnacott |
| DOI | 10.1177/002070207202700208 |
| Published date | 01 June 1972 |
| Subject Matter | Article |
PAUL
WONNACOTT
United
States
investment
in
the
Canadian
economy
It
is
no fun
being
a
little
brother.
And,
if
there
is
no
prospect
of
growing
up
to
be
as
big
as
one's
sibling,
it
is
less
fun
still.
This
is
the
nature
of
the
Canadian problem.
North
American
but
not
Ameri-
Professor
of
Economics,
University
of
Maryland;
author
of
a
number
of
books
including
The
Canadian
Dollar
1948-1962
(Toronto
1965).
I
am
indebted
to
Lloyd
Atkinson
for comments.
[ij
Reclaiming
the Canadian
Economy:
A
Swedish
Approach
through
Functional
Socialism
by
Gunnar
Adler-Karlsson,
with
an
introduction
by
Abraham
Rotstein
(Toronto:
House
of
Anansi,
197o,
xx,
97PP,
$6.oo
cloth,
$1.75
paper).
A
sensible
argument
that
reformers
should concentrate
on
insuring
social
behaviour
by
corporations,
and
not
become
hung
up
on
the
question
of
public
ownership.
[2]
U.S.
International
Business
and
Governments
by
Jack
N.
Behrman
(New
York,
Toronto:
McGraw-Hill,
1971,
xii,
244pp,
$7.25
cloth, $5.00
paper).
A
lot
of
factual
information
on
the
international
corporation
and
on
government
policies,
some
of
which
is
unfortunately dated.
(For
example,
the United
States
Treasury
view
presented
on
p
198
is
that
of
former
assistant
secretary Stanley
Surrey,
and
not
that
of
the
Treasury
under
the Nixon
administration.)
In
contrast
to
Kari
Levitt
[4],
who
gives
lots
of
answers
but
leaves
the
reader
to
figure
out
the
appropriate
questions,
Behrman
has
an equally
disconcerting
habit
of
asking
many questions
without
attempting
answers,
or
even
suggesting
the
relevant
factors
to
be
weighed
in
working toward
answers.
This
is
too
bad;
his
questions
are
good ones.
[3]
A
Citizen's
Guide
to
The
Herb
Gray
Report:
Domestic
Control
of
the
National
Economic
Environment,
Canadian
Forum,
LI
(December
1971),
72
pp,
$s.oo.
An
abridged
and
edited
version
of
the
confidential
government study
of foreign
investment.
[4]
Silent Surrender:
The
Multinational
Corporation
in
Canada
by
Kari
Levitt, with
a
preface
by
Mel
Watkins
(Toronto:
Macmillan,
1970,
xxii,
185pp,
$1o.oo
cloth,
$4.95
paper).
Allons,
enfants
de
la
patrie,
le
jour
de
gloire
est
arrivel
[5]
Dual
Loyalty:
Canadian-U.S.
Business
Arrangements
by
I.A.
Litvak,
C.J.
Maule,
and
R.D.
Robinson
(Toronto,
Montreal,
New
York:
McGraw-Hill,
1971,
xiv,
242pp,
$3.95
paper).
Case
studies
of seven
United
States
subsidiaries
in
Canada,
with
historical
background
and
discussion
of
policy
implications.
Appendices
quoting
relevant
legislation (Broadcasting
Act,
etc),
Canada-United
States
agree-
ments,
and
the
Watkins
Manifesto.
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