I do not believe the Federal Reserve should dictate or promote any specific “vision” of the future payments system, particularly with respect to the small-dollar retail payment mechanisms. The marketplace will be the ultimate judge of the future direction of the payments system.
Others have outsourced product fabrication, but invested in product development and sales and service for new markets. We have seen gains in productivity among those manufacturing subsectors in which Canada has natural advantages, including primary metals, wood products, paper, and food. Since 2002, the greatest increases in manufacturing output per worker have occurred in these industries.