… Hejazi, who recently wrote a book about Canada’s slouching prosperity, agreed and added that government protectionism of the country’s biggest industries is another leading factor: “Companies are only as productive as they need to be,” he said — by shutting down competition, Canada is “killing innovation” as companies grow complacent.
“If you look at the three major industries in Canada: Telecom, air transportation and finance — I can go further and say dairy and even grocery — all of these industries are extensively protected from competition,” Hejazi said. As a result, these companies “don’t need to move the needle” in order to pull in profits.
