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In this report, two of Canada’s top environmental economists and an award-winning journalist revisit economist Andrew Muller’s 1985 analysis of the value of water’s contribution to the Canadian economy.

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Canadians consistently rank water as this country's most important asset. Climate change, growing industrial use and population growth are stressing water supply and fueling international sales of water-related services. Realizing the greatest benefit from Canada's water requires a capacity to distinguish which uses generate the most value.

The first estimate of water's contribution to the economy in 25 years suggests that while the rest of the economy has almost doubled over that period, water's measured contribution has declined. The analysis clearly reveals how many "known unknowns" hold us back.