[jfim]

The biggest problem with Canadian capital markets is that investors aren't really that comfortable with taking risk, because the alternative for them is to park their money in real estate, which has done quite well with little risk in Canada.

If Carney really wants to make this happen, he'd have to thread the needle on deflating the property bubble in order to make venture capital and productivity investments more attractive compared to real estate, all while managing the rest of the highly US dependent economy for the upcoming years.

Switzerland has fewer sociocultural problems than the US, but it's also a smaller relatively homogenous society with far less immigration, and a highly educated and politically involved population.