Starting with an analysis of Canadian economic interrelations with various European countries during the ‘European Age’ in Canadian history, Dominion of Debt goes on to examine the effect of international investment flows on Canadian economic development; and then to the impact of the first world war and its attendant financial upheavals, which ended the British imperial connection and made way for the advent of the ‘American Age’. A series of essays on the political economy of federalism follows, together with an anatomy of the principal economic force that has traditionally assured a centralization of economic power in Canada, the banks.

The author then proceeds to the international sphere, exploring the impact of Reaganism on international financial relations, and the American-dominated International Monetary Fund on developing debtor countries, in which category Canada has some presence. Finally, Naylor scrutinizes the ideological foundations of the ‘new’ conservatism that ahs cast its shadow over the world of international finance, including the central role played by its leading Canadian exponent.

Table of Contents

Introduction
Canada in the European Age.
The Canadian State, the Accumulation of Capital, and the KGreat War.
Kierans Versus Brecher: A Third View.
High Interest Rates are a Lot of Bouey.
Political and Structural Factors Behind the Bank Profits Controversy.
Johnson on Cambridge and Keynes.
American Capitalism's New Testament.
Reaganism and the Future of the International Payments System.
Impressions of an IMF/World Bank Meeting. The Crisis of Debt.

 Dr. R.T. Naylor teaches economics at McGill University in Montreal. He is author of the two-volume study The History of Canadian Business 1867-1914.