Author: Michael Holden
Policy makers in western Canada have long been preoccupied with the idea of economic diversification and reducing the region’s dependence on natural resources. However, assumptions about economic diversification have changed considerably over the last 30 years. The global economic context in which the West operates has evolved and western Canada’s reliance on resources has evolved from a perceived weakness to an acknowledged strength. With that said, the latest research from the Canada West Foundation indicates that economic diversification is still a relevant objective in western Canada today.
In the fall of 2011, the Canada West Foundation gathered over 30 experts in economics, government and academia for the Honourable James A. Richardson Discovery Roundtables, to examine the role of economic diversification in the West today. The synthesis report from the roundtables, Who Cares About Baskets? We’ve got Eggs! Diversification & Western Canada’s Economic Future, determines that while diversification is still a significant objective in western Canada, participants indicated that the pursuit of economic growth and prosperity should be the primary goal.