Wheat from the Chaff

World Economic Forum

In a world where economic discussion is still overwhelmed by neo-liberal cant, it's refreshing to see a generally pro-business organization capable of seeing competitiveness and productivity in (somewhat) broader terms than Milton Friedman's disciples. The World Economic Forum is a Swiss-based think tank that promotes international dialogue on a variety of key global issues. Perhaps the Forum's biggest contribution is its annual competitiveness rankings. Unlike traditional right-wing economic observers, the WEF agrees that competitiveness is based on a wide variety of factors that go beyond the traditional neo-liberal pillars of low taxes and deregulation. It defines competitiveness as "the set of institutions, policies, and factors that determine the level of productivity of a country." These elements include such things as financial stability and market efficiency, but also health and education, reliable political institutions, and technological readiness. Its not exactly a left-wing menu of economic analysis, but it certainly goes beyond what we see from the ideologues at Fox News, the Fraser Institute or the Heritage Foundation.

Though the USA is traditionally strong in these rankings, so too are countries with high business, income and sales taxes, and large social safety nets. According to neo-liberals, this can't possibly be true. Workers in competitive and productive economies should give much and expect little, and be grateful that the upper class is doing so well. Or so the story goes.

For more information, visit the World Economic Forum's website:

http://www.weforum.org/en/initiatives/gcp/Global%20Competitiveness%20Report/index.htm