Published on 2012/03/16

OECD Says Canada Striking Rich And Staying Smart

Canada’s economy is tilted to the west right now, with energy resources bringing in huge amount of foreign money and bolstering the Canadian dollar, but businesses in Central and Eastern Canada are suffering as a result. According to Jeremy Torobin of the Globe and Mail, this will require corporations in the negatively-affected parts of Canada to make themselves an essential part of the resource supply chain, which requires an adaptable highly-skilled workforce capable of changing to fill a variety of needs.

And according to a recent student from the Organization for Economic Cooperation and Development (OECD), Canada is in a great position to move into this space as it is one of the few resource-rich nations on the planet that has gained its wealth without shortchanging education or skills.

Joining Canada on this prestigious list are Australia and Norway, who the OECD says are outperforming the vast majority of oil-producing nations in learning outcomes at school.

In other places, the OECD found a “significant negative relationship between the money countries extract from national resources and the knowledge and skills of their school population.”

“Without sufficient investment in skills, people languish on the margins of society, technological progress does not translate into productivity growth, and countries can no longer compete in an increasingly knowledge-based global economy,” Andreas Schleicher, the Deputy Director and Special Advisor on Education to the OECD Secretary-General, told Torobin.

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