Say what? According to Richard Lipsey, a top Canadian economist, the dramatic decline in Canadian manufacturing will lead to new innovation and restructuring similar to what hit Britain in the 1980s.

So why is this good news?

The current economic situation is what it is! We can not change what's happened and we can't go back to how it was. Job seekers who embrace these ideas can get on with either finding work or creating work in the emerging new economy.

And, what exactly is that emerging new economy? Ah there's the rub.

Read the article in today's Globe and Mail called Clearing the wreckage, and building anew.