The U.S. corporate tax code is broken. High rates and perverse incentives drive capital away from the corporate sector and toward other uses and countries. Professor Mihir A. Desai believes a handful of changes could fix all that.
Some of the world’s most original thinkers explain the competitiveness challenge America faces and point the way forward.
Manufacturing matters to a nation’s economic prosperity, not because it is an important source of jobs (it currently represents only about 10% of US employment) but because manufacturing competence is often an integral part of innovation. By Professors Gary P. Pisano and Willy C. Shih.
The last three decades have seen American capitalism transformed by a simple idea—that the evaluation and compensation of managers and investors should be outsourced to financial markets, says Professor Mihir A. Desai.
The world is interdependent, and the U.S. economy is still too large for anyone to profit from a rapid decline in its well-being.
For decades, U.S. companies have been outsourcing manufacturing in the belief that it held no competitive advantage. That has been a disaster.