Competitive Advantage

Michael S. Malone is discussing in The Wall Street Journal some big changes coming in the global economy. Some two billion new consumers connected to the Internet. He says America has some big challenges ahead. He has some thoughts about how American can compete for these new customers.

Ultimately, our strongest competitive advantage is the ingenuity and entrepreneurship of the American people. One of the miracles of the last few years is how, in places like Silicon Valley, smart young men and women have still managed to create great new companies in the face of every impediment Congress and the regulatory agencies have thrown at them.

But these advantages are slowly shifting to elsewhere in the world. The single most important thing Washington can do right now is to unleash these people and support new company formation in the tech world – and then enable the most successful of those companies to go public again. This means not just patching Sarbanes-Oxley, but killing it.

That would be a very good start. He has six other proposals for improving America's competitive position. GRTWT

H/T Instapundit