The Competitiveness of the US Economy Essay Example | Topics and Well Written Essays - 500 words

The Competitiveness of the US Economy - Essay ExampleFor the past 15 years, the nation has maintained its rate as the most competitive economy in the world amidst the challenges in the rapidly evolving global environment. During 2007, the IMD World Competitiveness Yearbook together with the World stinting Forum cited that US is arguably the country with the most productive and innovative potential in the world (Reuters 2007). Amidst this regard for US competitiveness, this paper argues that the economy should tolerate out and safeguard this status in the face of recession it is undergoing.A countrys competitiveness is indicated not just by economic strength but through with(predicate) the creation of a market environment which promotes healthy and unbiased competition among industry players. In order to be competitive, leaders should pursue policies which treat players equally. In an extreme case, competitiveness is indicated by a market where there is no government intervention ( McConnell & Brue 2002). However, in the world today this system is not operable and thus, competition is promoted through little or balanced intervention from the state.This paper believes that US economy is by far the most competitive economy in world noting the governments quest in promoting efficiency and fair play.