Canada’s economy should be the envy of the world. Instead, we’re falling behind, constrained by a system that struggles to turn opportunity into action.

Our country has the makings of an economic powerhouse — private-sector capacity and expertise to build, an educated workforce, stable institutions, rule of law and abundant natural resources.

But the investment needed to succeed isn’t forthcoming.

That’s because the single biggest barrier to investment (and prosperity) in this country is the very system meant to enable it — Canada’s major project approval process.

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According to previous analysis by the Business Council of Alberta, over more than a decade, business investment per worker in Canada has declined by 11 per cent, while increasing by 45 per cent in the United States. Today, Canadian firms invest roughly half as much per worker as their American counterparts.

That underinvestment is a direct result of our country’s inability to get big projects approved. Our problematic approval and policy environment has........

© Calgary Herald