The completion of the Canadian Pacific Railway in 1885 and the North American Free Trade Agreement (NAFTA) in 1994 both led to a process of creative destruction.

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The completion of the Canadian Pacific Railway and NAFTA both opened up new economic opportunities but also caused the destruction of certain industries and ways of life. This is known as creative destruction, a term coined by economist Joseph Schumpeter.

The Completion of the Canadian Pacific Railway in 1885 and the North