I want to talk today about potential, a word that speaks optimistically to the future – to what can be. It’s a word that means different things to different people under different circumstances. It’s an abstraction: a concept that promises a road leading to success. That is the finish line – the promised destination. Getting there is another story.
The way forward is seldom direct and reaching potential is a trajectory where the journey is as important as the destination, especially for the “dismal” science of economics. We can think of Canada’s economic potential as where we can be if we do our best and make all the right decisions. It is what we can hope to achieve over the longer run.