This timely study fills some serious gaps in the historical record of economic development in Canada and compares it with that in the United States pointing out the parallels in development that have resulted from similarities in tastes and technologies and the high degree of monility between two economies. In addition, it clarifies certain mistaken notions about the Canadian economy by evaluating the sources of past growth and anticipating the potential open to the country. This edition includes a chapter which examines Canadian experience over the past decade and compares it with that of the United States. This work will be valuable to economists, policy makers and the informed layman. There is a minimal amount of complex mathematics and the bulk of the statistical material is relegated to the apendices.