The World Economic Forum has given the US the bronze medal in their annual Global Competitiveness Index (GCI). First place goes to Switzerland and second place goes to cane wielding Singapore.
Not so bad for a country where the curmudgeons work their eyebrows into a knit bemoaning the state of our infrastructure and the declining abilities of our population. While such complaints are probably well-founded, keep in mind that the sky has been falling since man looked up at the clouds.
The GCI measures competitiveness by looking at what determines a country’s level of productivity such as institutions (congress, Federal Reserve, etc.) and policies (taxes, trade agreements, intellectual property rights). In all the GCI uses twelve “pillars of competitiveness to come up with a weighted measurement. Here they are and below that you can take a peak at the top 25 on the list – click the list image for a larger version.
- Macroeconomic environment
- Health and primary education
- Higher education and training
- Goods market efficiency
- Labor market efficiency
- Financial market development
- Technological readiness
- Market size
- Business sophistication