GET THE FACTS BEHIND THE NEWS
With the many advantages of the US economic system, listed in ourlast blog, why does Prof Porter believe what has driven our success is starting to erode?
There are probably several reasons. Two reasons that are part of the sme problem stand out.
1) As Prof Porter notes the American political system has evolved with piecemeal reactions to current events. The means that the effect of a decision, or the cumulative effect of several decisions from various parts of our economy or political system are not examined for their effect on the whole system.
2) Decisions made for the purpose of changing the economic system, such a tariffs, anti-trust laws, oversight provisions etc.frequently ONLY take into account the immediate industry or situation rather than considering the overall and long run situation.
This is why the US needs an economic strategy.
Prof Porter does not discuss the Who and Where the strategy would formulated, approved, and maintained. Assuming that we can not expect the general public to be informed and maintain continues interest in such a project the actual work would have to be carried out by a commission, gov’t agency, or respected public organization. It would be very important to have transparency and frequent opportunities for suggestions and discussions.
Next blog we discuss some economic areas that worry Prof Porter.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment