Answer:

Canada and the industrialized world are in the midst of transforming itself into a knowledge-based society. The so-called Information Revolution, which has been unfolding for at least the past 20 years with more STILL to come, will in all probability be reinforced and outdone by the nascent biotechnology revolution that is underway. The next generation of Canadians will likely lead QUITE different lives than Canadians today and the demands imposed on them, particularly in TERMS of acquiring knowledge and being socially adaptable, will be far greater.

Canada’s recent record in acquiring knowledge relative to other OECD countries has been impressive: our educational investment record is superb; our scientists are among the most productive in the world and have distinguished themselves in a number of fields, which are likely to be KEY catalysts of the biotechnology revolution. So, on this score, Canada is well placed to be a leading economy in a knowledge-based world. If there is weakness, it is on the R&D front. Canada trails virtually all G-7 countries (leads only Italy) and most West European countries in terms of its expenditure on R&D relative to GDP. Indeed, what is surprising is Canada’s relatively high standing in terms of productivity and standard of living in light of its laggard R&D performance.