When we think of innovation, we think of people like Sicard and Bombardier, who start from scratch, invent new products or processes, and create companies that soon become drivers of the economy. These innovators help increase our productivity. In recent decades, advanced economies have experienced a sharp decline in productivity growth.
This trend is worrisome because, in the long run, productivity growth determines the evolution of our standard of living. To give you an idea of how much it matters, last year Canadians would have earned an additional  I would like to thank Pierre St-Amant and Ben Tomlin for their help in preparing this speech.