There is always a lot of talk in Canada , especially among the policy wonks , about how we could do better as a country , economically. Well , perhaps some of these people should read carefully the report referenced below and recommend actions consistent with the findings here.
We are 15th.
This from the World Economic Forum ‘s Competitiveness Report for 2015-16.
This 400 page report is pretty exhaustive detailing 12 pillars ( factors ) that were used to assess a country’s competitive position.
Whose first? Switzerland , Singapore second and the United States third. The rest of the top ten in order are: Netherlands, Germany, Sweden, United Kingdom, Japan, Hong Kong, Finland . Then there is Norway, Denmark, New Zealand, Taiwan.
Now we should look at those pillars where we are really behind .
Institutions –public (property rights, ethics corruption, undue influence , Public sector performance) and private ( Corporate ethics and accountability). We score 18th .
Infrastructure –transport and electricity and telephone . We are 15th.
Macroeconomic Environment –Govt. budget balance, Gross national savings,inflation , credit rating, capacity to retain talent, capacity to attract talent , govt. debt. We score 41 .
Technological Readiness —Technological adoption involving availability of latest technology, company level technology absorption, and technological transfer. We score 24 .
Innovation and Sophistation Factors–Capacity for innovation, quality of scientific and research institutions , company spending on R and D, industry and university collaboration , availability of scientists and engineers, patent applications , and intellectual property protection . We score 24.
Even on health and education we are only 9th.
So , here is a good place to start if Industry, Academia and the Governments are really interested.
Read the report and deal specifically with those areas where we are obviously behind.