3 This dynamic process of innovation was called “creative destruction” by the economist Joseph Schumpeter in the 1930s. Data collected by Statistics Canada show that there has been a surprising and sustained decline in the entry rate of new firms since the early 1980s. Relative to total active firms, the entry rate of new firms was 24 per cent in 1984.
Those engaged in agriculture are not employed in the strict sense of terms as we think about employment in factories, firms, government departments, etc. In agriculture, higher incomes accrue to the landholders through higher output prices and higher productivity. Farm labour also benefits as the demand for their services also rises and poverty declines in rural areas too.