To Achieve Prosperity and growth

GET THE FACTS BEHIND THE NEWS

Professor Michael Porter distinguished Harvard Business School Professor has written in the Nov. 10 issue of Business Week an article explaining why he believes the economic advantages of the US are eroding and why the development of an economic strategy is critical.

Prof Porter states” a series of policy failures and have offset and even nullified “US “ strengths just as other nations are becoming more competitive”. Let’s have a look at some MORE of the economic areas that worry Prof Porter.

5) The US is energy inefficient. Public policies fail to promote energy conservation.

6) “Trade and foreign investment are fundamental to the success of the US economy but the US has lost its focus and credibility in shaping the international trading system.” “With no strategy the US has failed to work with other advanced countries to assist poorer countries to feel confident about opening markets and internal reform.” “Our foreign aid is still tied to the purchase of US goods rather than the actual needs of countries.”

7) “The federal gov’t has failed to recognize and support the decentralization and regional specialization that drives our economy.

8) Lack of regulatory oversight combined with lack of a strategic plan has resulted in a hodge-podge of policies that have driven up the costs of doing business. TO SUM UP WE HAVE HAD POOR ECONOMIC MANAGEMENT.

9) Is good strategic economic plan possible considering our political system?
It requires political parties and private leaders to come together and chart a long term plan. Prof Porter recommends a bipartisan joint planning group to coordinate priorities,

What political problems does our present depression present?