Finally, some good news about American Business. Michigan's manufacturing economy gives manufacturing-issues more shelf space in a crowded midwestern brains and it's easy to believe the rest of the country's industries are similarly challenged. Not so, points out Sebastian Mallaby in the Washington Post op-ed linked above.
"Whence this American superiority? The first answer is that competition is fiercer. The United States has relatively few trade and regulatory barriers for firms to hide behind, so bad companies either shape up quickly or go bust. In retailing, for example, firms such as Wal-Mart and Target have been able to spread their super-efficient logistics systems all across the country -- at least until lately, when a perverse anti-Wal-Mart campaign has sprung up. In Europe and Japan, by contrast, a web of zoning laws entangles efficient retailers, sheltering unproductive companies that overcharge consumers."Read his piece and feel better that all is not doom and gloom for America business. In fact, we're doing better than you think.