Andrew Chau: The hidden costs of playing it safe in Canada

If Canadians vote with their wallets by shifting where they shop and bank, writes Andrew Chau, we create the demand that builds scale, lowers costs, sparks innovation and, most importantly, puts money back in our pockets. Photo by Devonyu/Getty Images/Postmedia files

Canadians may pride ourselves on being careful, but this caution exacts hidden tolls: stagnant innovation, overpriced services and high fees. From stalled open banking to high phone bills and bank fees, our reluctance to push back has become a silent tax. If we began voting with our dollars by shifting where we shop and bank, we would force change. Until then, our risk aversion remains our most expensive habit.

For example, our reluctance to switch carriers has entrenched one of the most expensive telecom markets in the