Educated young people are B. C.’ s greatest resource
We are a province endowed with a bounty of natural resources; now we must learn to be more resourceful
Historically, British Columbia’s economy has been driven by natural resources. Forestry, fishing, mining, oil and gas, agriculture and abundant hydroelectric power have provided us a natural bounty that has driven much of our social, cultural and economic development. In the future, our natural resources will continue to play a central role in our economy but ultimately, it will be our intellectual resources that will be the key to our future prosperity.
Our intellectual resources are developed and stewarded in the most effectively integrated system of post- secondary education in the country. This system allows B. C. students the ability to move between colleges and universities, unlike the case in most provinces where such transfers are almost impossible. This provides us a remarkable competitive advantage. As a result, B. C. has a unique opportunity to use our post- secondary system to develop our intellectual resources like never before.
The link between university education and our future prosperity has never been more important and transcends much of what we do in society. University education and research can help us do things better both in the near term and in the long term.
The university of the 21st century is a crucible for the creation of knowledge that can lead to breakthrough innovations. This new knowledge is created and transmitted to the world through the most powerful of all agents, our most valuable natural resource: creative, informed and inquiring people. Thus post- secondary education generates the “intellectual resources” and “human capital” powering our province.
Global competitiveness is increasingly dependent on how well our valuable, and infinitely renewable, intellectual resources are nurtured. Demand for the best minds is fierce and will continue to grow. Governments around the world now recognize the tremendous economic returns that an investment in higher education can deliver. Meanwhile, both our federal and provincial governments have indicated the need to attract the best and brightest from around the world in order to meet the demographically driven skill shortage.
Distracted by our abundance of natural resources, there is a very real risk that we refrain from investing in the development of the intellectual resources of this province’s young people. We need to articulate a compelling vision for post- secondary education and research that will define the future of this province.
Such a vision includes competitive operating funding for institutions. It includes financial assistance for our students to ensure debt aversion doesn’t prevent some of our best and brightest from pursuing their education. It requires the establishment of a provincial graduate fellowship program in recognition of the fact that B. C. is the only major province without one. And it requires a commitment for investing in the research infrastructure that drives innovation. Such investments present game- changing opportunities across economic sectors and geographic regions. Some examples of success provide a sense of the bounty that awaits.
B. C. is a global leader in green energy. Bright graduates have established links between the universities and the private sector, building our leadership position in areas such as fuel cells, smart grids, alternative energy and biofuels. New products and processes arising from university research have transformed our forestry and mining industries. Research into drugs, disease and the social determinates of health is improving the human condition.
Ocean Networks Canada is managing the world- leading VENUS and NEPTUNE ocean observatories. This initiative was cited in 2011 by Popular Science magazine as one of the world’s “10 most epic science projects,” recognized alongside such achievements as the International Space Station and the Large Hadron Collider. These observatories are driving the development of international commercial opportunities for businesses in ocean technology and marine services here in B. C.
The Pacific Institute for Climate Solutions ( PICS) is partnering with governments and the private sector to research, monitor and assess the potential impacts of climate change, identify adaptation options, and develop policy and business solutions. A unique collaboration between the University of Victoria, UBC, SFU and UNBC, PICS is helping lead the way to a vibrant, low- carbon economy. Economic development challenges — and business opportunities — don’t get any bigger than that.
By combining rigorous research and creative thinking, both short- term solutions and far- reaching discoveries become possible.
It is the quest for such discoveries — the need for continual innovation in our changing world — that makes the province’s intellectual resources our most important natural resource. Our long- term goals of maintaining and enhancing the social, cultural and economic prosperity of B. C. will require us to renew our vision of the future and equip ourselves to be able to respond to entirely new kinds of opportunities.
History teaches us that big economic changes have always begun with innovation borne of creative thinking. In the last century, the increase in education of the labour force stimulated economic growth, and in the 21st century, that trend is accelerating.
How can we put ourselves in a state of readiness to thrive in the future? And will we have the intellectual resources necessary to face tough global competition?
Ensuring that we do requires a renewed commitment to invest in research and education. It requires strengthening and expanding the collaboration between universities, government and industry, and increasing the flow of knowledge between the sectors.
Finally, it requires a culture that values learning, creativity and critical thinking — a culture that is fully prepared to thrive in a global economy where intellectual resources are the currency of success.