Tags: harvard | alumni | survey | competitiveness

Harvard Alumni Survey: US Business Is Losing Its Edge

Wednesday, 17 Oct 2012 08:14 PM

Executives around the globe fear businesses operating in the U.S. are becoming less and less competitive in the global economy, the Wall Street Journal reports, citing a survey of Harvard Business School alumni.

The survey participants also question the ability of businesses in the U.S. to pay high wages to their U.S. employees.

According to the Journal, 58 percent of the respondents expect U.S. companies to become less competitive globally and experience difficulties paying competitively high wages.

Editor's Note: Prophetic Economist Warns: “It’s Curtains for America.” See Evidence.

The study also found that 25 percent expect the U.S. to improve in one or in both categories.

"It's not that the sky is falling," said Jan Rivkin, a Harvard professor overseeing the project with competitiveness expert Michael Porter, the Journal added.

"We've got great strengths, but the strengths are weighed down by weaknesses that are getting worse."

The survey did find, however, that participants were not as pessimistic over the country's economic future than they were in past surveys.

"We are sinking more slowly," Rivkin said.

Consumers in the U.S., however, are a little more upbeat, separate data show.

The Thomson Reuters/University of Michigan's preliminary reading for its October consumer sentiment index hit 83.1, the highest since September 2007, Reuters reported.

Unlike in months past, consumers are feeling better about the economy today as well as over the economy's future.

"What changed was how they (consumers) evaluated economic conditions," said survey director Richard Curtin, Reuters added.

"Economic conditions during the year ahead were expected to be 'good' by more consumers, and more consumers expected 'good' economic times over the next five years."

Editor's Note: Prophetic Economist Warns: “It’s Curtains for America.” See Evidence.

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Executives around the globe fear businesses operating in the U.S. are becoming less and less competitive in the global economy, the Wall Street Journal reports, citing a survey of Harvard Business School alumni.
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2012-14-17
 

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