ABSTRACT

Arriving in Toronto from American cities is a pleasure. Immediately, the city feels more relaxed. The absence of tension between races is in stark contrast to the black and white split in some towns in the United States, and sometimes between minorities, or the fear that is increasingly surfacing between new and native-born Europeans. Neither does Toronto flaunt obvious extremes of wealth and poverty. Public services-schools, transport-are used to some degree by everybody. The schools are not plagued by drugs and violence. These

was making an operating profit but ‘couldn’t even begin to pay back the construction loans…Debt no longer seemed like such a magical way to create wealth.’2