Here's a recent BusinessWeek article from Michael Porter that was a great read on where the US is headed and why we are falling behind other nations in growth and new accomplishments. Actually, he admits that we haven't yet fallen behind severely, but that we're headed down a path to lose competitive advantage.
Why America Needs an Economic Strategy
Quote:
The stark truth is that the U.S. has no long-term economic strategy—no coherent set of policies to ensure competitiveness over the long haul. Strategy embodies clear priorities, based on understanding the strengths we need to preserve and the weaknesses that threaten our prosperity the most. Strategy addresses what to do, but also what not to do. In dealing with a crisis, experience teaches us that steps to address the immediate problem must support a long-term strategy. Yet it is far from clear that we are taking the steps most important to America's long-term economic prosperity.
America's political system, especially as it has evolved in recent times, almost guarantees an absence of strategic thinking at the federal level.
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(If you're not familiar with Porter, he's a top Harvard business professor and you get a heavy dose of Porter in b-school.)