Who told you that America had lost its competitive edge “over the last couple of decades”? Whoever it was, you should sack him. He doesn’t know what he’s talking about.When it comes to world-bestriding colossi, why stop with the tech companies?
Like Koko in the Mikado, I have a little list, and I offer it to you, Barack, free and for nothing, without tax or levy:
Google. Yahoo. Facebook. Microsoft. Intel. Apple. Cisco. Adobe. Oracle. Wikipedia. YouTube. Twitter. Sun. Amazon. eBay.What do these world-bestriding colossi have in common? One thing is, they’re American companies. What other country can field a tenth as many innovative tech companies? None.
No, there is nothing flaccid about American business. There’s plenty of keenness on its “competitive edge.” It’s far and away the most productive and innovative economic machine in the world.
What’s “gone soft” and lost its “competitive edge” is American government, which can’t see a pile of money it doesn’t wish to expropriate in order to feed its “spread-the-wealth-around” socialist appetite and which sees government as the adversary rather than the enabler of business. That’s the rotten softness we have to worry about.
There's General Electric, most recently providing serious diesel freight locomotives to the Continent.
There's Nucor Steel, which at my most recent pass through the directory of steel plants, now melts more raw steel than the successors to U. S. Steel and Bethlehem.
There are the BNSF, Union Pacific, and CN Railroads, which have put capital into infrastructure improvements at a rate that the Highway Commissioner can't emulate, even with the various transportation and stimulus bills. (To some extent, the freight railroads resist the plans to speed up passenger trains on lines already crowded with freight traffic. Routes the new economy has bypassed, such as Chicago-Detroit, can be sold for conversion to passenger lines, and such lines might even have potential, unless the college bubble pops.)