In thinking about the competitiveness of a nation, analysts commonly focus on economic factors, such as exports, unit labor costs, and fiscal policy, among others. "Politics" is not typically high on the list, if it appears at all, observes Professor David Moss.
Across the political spectrum, there is consensus that the United States faces challenges to its competitiveness. Current U.S. fiscal policy is, unfortunately, part of the problem rather than the solution, according to Professors Richard H.K. Vietor and Matthew C. Weinzierl.
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.