The Looming Challenge to U.S. Competitiveness
In a March 2012 article of the Harvard Business Review, Professors Michael Porter and Jan Rivkin outlined the looming challenge to U.S. competitiveness. The United States is a competitive location to the extent that firms operating in the U.S. are able to compete successfully in the global economy while supporting high and rising living standards for the average American. Although the U.S. retains profound competitive strengths—for instance, in higher education and entrepreneurship—those strengths are increasingly threatened by weaknesses in areas such as the tax code, basic education, macroeconomic policies, and regulation. Steps to reverse the loss will require a new focus by government and business leaders.