Reinventing Competitiveness – American Affairs Journal

It’s time for some soul-searching with respect to our economic future. Will we restore our ability to produce world-class products here in America? Will we invest in our capacity to lead innovation in the industries of the future? Or will we simply take solace in the comforting numbers from Wall Street, resigning ourselves to an economy focused on finance and services? At the level of geo-economics, we need to ask some bigger ques­tions: How have we, the most advanced technological power with the largest research budgets and many of the best universities, managed to lose our most essential assets for innovation and produc­tion? How have we managed to lose the economic foundations of our industrial heartland in the Midwest? How have other legacy industrial powers like Germany and Japan—with higher wages, higher energy costs, and stricter regulations—managed to weather competition from rising industrial powers more successfully? How have we allowed our medical supply chains and defense readiness to become utterly dependent on China?

Source: Reinventing Competitiveness – American Affairs Journal

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