One never knows how much weight to put on these sorts of indexes, but this is good to see:
The U.S. dethroned Hong Kong to retake first place among the world’s most competitive economies, thanks to faster economic growth and a supportive atmosphere for scientific and technological innovation, according to annual rankings by the Switzerland-based IMD World Competitiveness Center. . . . The renewed top ranking aligns with the positive U.S. growth narrative over the past year. Growth averaged 2.9 percent in the four quarters through March, versus 2 percent in the prior period.
The mind boggles at the notion that Americans would be content to give up that title. Of course, the complexities of our electoral system mean it’s never that straightforward, and to the extent that there is such a choice, a fair people will often accept a little bit less competitiveness in the name of helping others.
The missing piece, therefore, is awareness that this is a false choice. A more competitive economy is one in which there is more opportunity and more churn in who is on top. It’s one with higher prosperity, which means more money flowing around and a greater capacity for charity, too.