#innovation #canada #productivity The issue of lack of productivity in Canada is not going away. It is now, in fact, glowing, front and center. This report by the Centre for Canadian Innovation and Competitiveness cannot be more clear. https://itif.org/publications/2024/04/29/assessing-canadian-innovation-productivity-and-competitiveness/ "Canada’s productivity performance has been dismal."
" Canada lags peer competitors on key innovation indicators"
" Policymakers must develop economic strategies focusing on firm, sector, and technology levels" They also propose what we believe could be 10 principles that should guide any IPC policy efforts: "1. Reject “silver bullet” solutions.
2. Move beyond the idea that national economies can succeed by focusing on basic economic ingredients.
3. Think in terms of specific industries and technologies, not markets and the overall economy.
4. Look to “productionists” for advice on IPC.
5. Focus less on industrial recruitment and more on supporting companies already in Canada.
6. The only way to avoid the gravitational pull of the United States is to make our own.
7. See big and medium-sized businesses as beautiful.
8. Embrace North American integration, not separation.
9. Reject the precautionary principle and embrace the innovation principle.
10. Make IPC a top priority."
The options exist. The solutions too. Business leaders and policy makers fail to adopt them. Perhaps there is a cultural aspect to all this that should be discussed. Perhaps it is time we recognize that there is a resistance factor to change and innovation that we should address as well.
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