I was drawn to a very interesting article on the current state of the American economy and its outlook. It appears here, in Business Week. The title of the article is “Can American Invent It’s Way Back?”. It brings to light a lot of different feelings that we have as Americans, and how we hope to return to our status as world leader.
Innovation has long been at the forefront of a strong economy. It used to be, the country with the most money and the brightest workers had a clear advantage in a local world. Then something happened. The world got smaller. Developing countries caught up to us in a hurry. And now, innovation is at the forefront of growing economies like China, India, Brazil, and some Eastern European countries.
There is no such thing as a world economic power, because the economy of each individual country is so tied up in every other country. Businesses, organizations, governments, consumers and currencies all cross borders. In the U.S., we need to stop worrying about controlling or dictating the way the world economy works, and get back to what has always made us great, our ability to foresee people’s needs and act to fix them. We need to harness the strength and determination of our leaders, while empowering the small business innovators that guide us through new territory.
Continued growth is only possible in a cooperative economy. We need to accept that, nurture it, and work towards it.