Blog posts from September, 2012

Harvard Business School Prof Raises Alarm About U.S. Competitiveness

September 10, 2012 by MAGNET Ohio

This week I read a short article in Fortune that really got my attention. It’s titled "The crisis in U.S. competitiveness can’t be ignored." In this article, Fortune business writer Tory Newmyer reports on a recent speech by highly regarded Harvard Business School professor Michael Porter. Porter was speaking in Charlotte, N.C., at an event sponsored by Duke Energy and Verizon, about some "very, very disturbing trends" he sees emerging in our economy. The context of his view was based on his research on the fraying of American competitiveness. The evidence he presented was not a one-time fall, but a problem with U.S. productivity that he claims has been in process over the past 20 years. In short, he believes that U.S. industries exposed to international competition have created no new jobs for decades. "This is a real, real issue facing this county and we’ve got to tackle it. We can’t hope that we’ll just have a recovery and things are going back to the way they were," he said. Porter’s research, which included a survey of 50,000 Harvard Business School alumni, lead him to the conclusion that American productivity is not strong enough to justify higher labor costs and

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