Forging a new industrial policy in Canada – Policy Options

September 16, 2024

Governments need to listen to stakeholders and outside advice to catch up as other countries move ahead with a new model for economic intervention.

Liberal democracies have entered a new era of organized capitalism. Industrial policy lies at the heart of this transformative shift, but Canada seems to be missing out.

In the past, provincial and federal governments have forged new paradigms to address major challenges. In this case, they have passed on the opportunity to create a new model to provide long-term economic guidance while other countries move ahead with renewed industrial policy.

While the conditions for catching up are bleak, it is not too late.