How can Canada crack the productivity code to secure a prosperous future? Join us for an enlightening conversation with Pedro Antunes, the Chief Economist for the Conference Board of Canada, as he unpacks the pivotal role productivity plays in shaping our nation's economic landscape. He scrutinizes why GDP per hour worked is a crucial metric for income generation and long-term growth, and why enhancing private sector productivity is essential for maintaining robust public services like healthcare and education.
Pedro takes us on a journey through the complexities of the productivity equation. Using concrete examples, he illustrates how higher education and skill levels can lead to substantial income growth. We also uncover the challenges Canada faces with insufficient private investment, exploring how even minor differences in productivity growth rates can have significant long-term economic impacts. Our discussion emphasizes the importance of strategic investments and competitive tax reforms to enhance productivity and fuel economic growth.
In our final segment, we tackle the productivity hurdles that emerged post-2015, including the impacts of oil price collapses, the COVID-19 pandemic, and U.S. tax cuts. We explore the post-pandemic challenges in sectors like utilities, transportation, and construction, and delve into the burgeoning knowledge economy. Pedro offers a forward-looking perspective on revitalizing public transit, addressing labor constraints in construction, and crafting immigration policies to attract the skilled trades necessary for housing development. Tune in to gain a comprehensive understanding of Canada's productivity landscape and the critical steps needed to navigate these multi-faceted issues.
What You’ll Learn:
• The significance of productivity for Canada's long-term prosperity.
• Key drivers of economic productivity and income growth.
• The economic challenges and investment dynamics post-2015.
• Post-pandemic productivity challenges and opportunities.
• The evolving landscape of Canada's knowledge economy.
Podcast Timestamps:
(00:00) – An Introduction to Productivity
(10:52) - Productivity Growth and Investment
(17:15) - Investment Challenges and Solutions
(32:56) - Canada's Post-Pandemic Productivity Challenges
(37:32) – The Role of the Knowledge Economy in Productivity
(47:12) – Through the Looking Glass: The Future of Productivity
More of Pedro:
Pedro Antunes is the Chief Economist for the Conference Board of Canada, where he leads a team responsible for producing economic forecast products and reports on key indicators impacting Canada. Joining the Conference Board in 1991 after working with the Canadian Forecasting Group at the Bank of Canada, Antunes has been a key figure in researching issues such as demographic change, public health care sustainability, and long-term economic growth. He regularly provides expert testimony before parliamentary committees and engages with Canadian leaders, the public, and media on economic issues important to the nation. Recently, he has focused on a report titled Cracking the Productivity Code, which addresses productivity challenges in Canada.
LinkedIn: https://www.linkedin.com/in/pedro-a-22265a2/
Mentions:
Cracking the Productivity Code: Charting a New Path to Prosperity
Key Topics Discussed:
Positive Leadership, Productivity, Canadian Economy, Economic Growth, GDP, Healthcare, Education, Labor, Capital Investments, Income Growth, Tax Reforms, Small and Medium-Sized Enterprises, Competitiveness, Knowledge Economy, Interprovincial Trade Barriers, AI, Immigration, Skilled Labor, Canada-US Relations, CEO Success
More of Do Good to Lead Well:
Website: https://craigdowden.com/
LinkedIn: https://www.linkedin.com/in/craigdowden/
