Absolutely. Thank you for the question.
You have to understand that 91% of the value of the S&P 500 is in intangibles, up from 16% 40 years ago. The change in the economy is unprecedented in its degree and rapidity. Thus, it's your marketplace frameworks that determine whether you capture the economic and non-economic benefits of those investments. I have a chart of spillovers in the document I provided to you. They're dramatically different in the intangibles, where, when you can bring in a foreign firm or give them money, all you're doing is making them richer and more capable of exfiltrating assets and talent and wealth and security from Canada.
Whether it's a vaccine manufacturer that is foreign-owned, whether it's Mastercard, as you mentioned, whether it's Google for a smart city or whether it's partnering with Huawei at our universities with taxpayer funding, we will not get the sovereignty and wealth affects of that. It goes to capacity. If somebody understood what they were doing, if they were trained, if they had the expertise, if they had the analytical frameworks, we would do it radically differently.
Because we've had an extreme neo-liberalism orthodoxy, you don't have to do anything. You just go hands off. We went hands off when the rest of the world was double hands on. I'm not against investment, but I'm against spending money with no expertise in terms of making a dollar into 10 dollars. Then, when it turns into 10 cents, people say—