United States Losing Competitive Edge: World Economic Forum Report Fast Company
The United States has fallen from second to fourth place in The World Economic Forum (WEF)'s Global Competitiveness Report for 2010-2011. Switzerland seized the top spot, followed by Sweden, then Singapore. Germany came in 5th. The report indicates that deficits, debt, and loss of faith in public institutions torpedoed the U.S.'s ranking. The rankings take into consideration 12 factors, "institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labour market efficiency, financial market development, technological readiness, market size, business sophistication, and innovation," and give a snapshot of how competitive national economies are, according to the press release.