ITIF Study Finds US Economy Losing Competitive Edge

New York Times (2/25, Lohr) reports, "The competitive edge of the United States economy has eroded sharply over the last decade, according to a new study" from the Information Technology and Innovation Foundation, which "found that the United States ranked sixth among 40 countries and regions, based on 16 indicators of innovation and competitiveness." However, "the American economy placed last in terms of progress made over the last decade." The Times notes that "measuring national competitiveness and the capacity for innovation is tricky," as "definitions and methods differ, and so do the outcomes." In this instance, "results were adjusted for the size of each economy and its population." Using this technique, "the United States ranked sixth in venture capital investment (Sweden was first); fifth in corporate research and development spending (Japan led); and fourth in science and technology researchers (again, Sweden was first)." The study also included "specific recommendations" such as "federal incentives for American companies to innovate." Hat Tip: NAM