Formula For Growth
The Empire Club of Canada Addresses (Toronto, Canada), 10 Nov 1960, p. 81-93
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Formula For Growth

Some superficial similarities, and differences between the depression in the thirties and the current economic situation in Canada. A review of some of the solutions tried in the 1930's. What did provide the recovery and growth of recent years. Two influences of persistent technological improvement through sustained investment of new capital; and persistent development of markets where Canada has enough advantage to permit production at a profit. Some examples. The key to Canadian economic problems as a combination of market development, i.e. development of economic markets, together with persistent technological progress achieved through the investment of capital under the stimulus of free competition. Applying proven principles of market development and technological improvement to some current problems. Some suggestions. The public debate over the subject of foreign investment in Canada, particularly American. Securing adequate and economic outlet in the U.S. market. Canadian energy development and its dependency on being competitive. Two hurdles to be overcome in order to chart our national economic future or progress. The importance of communication. Improved communication between government and business. Establishing a better basis for consultation. Co-operation between the economic and political elements of society. Examining those markets where we have an advantage and orienting ourselves accordingly. A reaffirmation of principles that led to growth over the past 25 years.