Productivity Growth and Canada's Mineral Industries

"CANADA'S ECONOMY TODAY is about two-fifths larger than it was six years ago, as measured by the total volume of production of goods and services. Such an achievement has been a rare phenomenon in Canada's first one hundred years. Excluding the forced-draft expansions which took place under war-time conditions, perhaps only the first decade of this century recorded a performance of greater dimensions, when, with massive immigration, the opening up of the West and a powerful array of well-de-signed development policies, the country was looking forward confidently to a great future of nation-building in the twentieth century.What makes Canada's over-all economic advance since 1961 all the more remarkable is that six years ago there was virtually no one in this country who anticipated an expansion of such dimensions. Back in the buoyant conditions of 1956-57, perhaps such an achievement would not have seemed beyond our grasp. After 1957, however, Canada stumbled through an extended period of slow economic growth, high unemployment and substantial and widespread under-utilization of its productive capacity. By the early 1960's, conditioned by the emergence of substantial, persistent and pervasive slack in the economy, t h e r e were few Canadians bold enough to anticipate that their economy was about to embark on a Great Expansion. However, this •is, in fact, what occurred. Beginning early in 1961, Canada moved forward into a sweeping advance which grew into the longest and largest peacetime business expansion in Canada's first century as a nation -a truly great expansion by any standard of measurement. This strong thrust has moved Canada into the front ranks of over-all economic expansion among the industrially advanced nations in the 1960's."