ABSTRACT
"Industrial strategy" was the most popular buzz word in Canadian economic circles in 1972. The Trudeau government promised that an industrial strategy for Canada would be announced soon, and in the months that followed everyone in and out of the government seemed to be preoccupied with thinking out the set of goals, policies, and action plans which would be appropriate for it. Although reformulation of industrial strategy has now become the focus of wide attention, even this is not as revolutionary a process for Canada as many people imply. The goals of industrial strategy being discussed in Canada have a broad sweep covering all of the aspects of human welfare to which economic policies could contribute. The financial questions being considered in the current discussion of industrial strategy tend rather to concern the capacity of the Canadian capital market to foster strong manufacturing development.
