Given the pace of change, it is no surprise that people are concerned. But I hope that helping people understand the process of technological change will allay some of those fears. The fact is, we have been through this many times, to our considerable benefit. Perhaps the pace of change is unprecedented, but the process of adjustment is very familiar.
How disruption works Now, I am not here to deliver an academic lecture. The Bank of Canada is trying to use plain and simple language as much as possible. In fact, we are launching a new publication called The Economy, Plain and Simple. It aims to explain important economic concepts in a way that is accessible for anyone who is interested.