If you believe in market forces, these movements represented a clear signal to invest and expand output. Those who were able to recognize the opportunity, make adjustments and exploit the higher prices were rewarded, and the increased income brought important benefits to Canada’s economy. Alternative scenarios and the need for flexibility Now let me spend some time talking about the future.
The price cycle I’ve sketched out may appear to be fairly predictable. But history has repeatedly shown that new technologies can quickly upend assumptions about future demand and supply. For example, back in the 1970s, there were predictions that the world would run out of copper by the end of the century.